of return and income risks and also upon the actuarial fairness of annuity contracts. …

wage risks and shows the risk of old-age poverty in Germany. After a short introduction, the effects of income and … also a negative interaction effect. The marginal effect of the income risk is positive. However, the marginal effect of the …

Adequately sustaining lifetime income is a critical portfolio objective for retired investors. This article provides a … brief review of various retirement income modeling approaches including historical back testing, Monte Carlo simulations …

persistence. -- Precautionary savings ; unemployment insurance ; long-term unemployment ; income uncertainty …

significant effects of precautionary savings on the consumption-savings decision. As a result of a doubling of transitory income …. -- Consumption-savings decision ; interest rate elasticity of savings ; income uncertainty …This paper empirically investigates the effects of changes in the interest rate as well as transitory income …

Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming … both differences in social security payments and different age-income profiles. -- Long-term unemployment ; social security … ; precautionary savings …

significant effects of precautionary savings on the consumption-savings decision. As a result of a doubling of transitory income …This paper empirically investigates the effects of changes in the interest rate as well as transitory income … uncertainty on households' consumption-savings decision. Applying a structural demand model to German survey data, we estimate the …