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 …

views. Second, lifetime wealth across generations could increase-as capital deepening generates a second demographic … dividend. Two policy responses to aging are emphasized: First, a structural policy response of linking mandatory retirement (or … further crowding out private saving-thus balancing capital accumulation with intergenerational income distribution. In …

. Using data from the Health and Retirement Study and the Medical Expenditure Panel Survey, we estimate a dynamic programming … model of retirement that accounts for both saving and uncertain medical expenses. Importantly, we model the two key channels …