A Danish tax reform, decided in May 2009 and taking effect from the beginning of 2010, lowered the marginal tax rate on top bracket taxable income from 63% to 56%. Because contributions to pension accounts are tax deductible, the reform provided an incentive to increase pension contributions...

We examine the incidence on household consumption of the introduction of tax incentives to retirement saving. First, using data from a panel of tax returns we document that most contributions to pension funds are by older/high-income individuals. Then we use panel data from a consumption survey...

In this Commentary, we demonstrate that the rules governing retirement savings have been funneling tens of trillions of dollars into a narrow class of return-maximizing investments, including industries that have been driving inequality and widespread ecological destruction. The Employee...

In a series of online experiments, we examine whether increasing the incentives to save by reducing the income tax rate on pensions results in higher savings. Our findings show that reducing the income tax rate on pensions has almost no significant effect on savings behavior. However, if we vary...