How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …

the lens of an estimated DSGE model. We augment the canonical DSGE set-up with 'forced savings' (lockdowns, social … dominant role of 'lockdown shocks' ('forced savings', labour hoarding) in explaining the quarterly pattern of real GDP growth … impact of persistently higher (precautionary) savings. The initial inflation response has been modest compared to the …