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effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or … ; renegotiation-proofness ; altruism ; fertility ; saving ; transfers ; attention ; pensions ; credit rationing …
Persistent link: https://www.econbiz.de/10003260821
When it comes to estimating the benefits of long-term savings, many people rely on their intuition. Focusing on the … domain of retirement savings, we use a randomized experiment to explore people's intuition about how money accumulates over … time. We ask half of our sample to estimate future consumption given savings (the forward perspective). The other half of …
Persistent link: https://www.econbiz.de/10013131371
When it comes to estimating the benefits of long-term savings, many people rely on their intuition. Focusing on the … domain of retirement savings, we use a randomized experiment to explore people's intuition about how money accumulates over … time. We ask half of our sample to estimate future consumption given savings (the forward perspective). The other half of …
Persistent link: https://www.econbiz.de/10013134869
savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the … show the ability of the retrospective survey to generate cross-country differences in wages and pensions which are in line …
Persistent link: https://www.econbiz.de/10013118948
version of our retirement savings model, which is a rational forward-looking framework that aims to guide a household toward … would lead to higher retirement savings for the household situations illustrated. By contrast, the increase in the Social … Security taxable wage maximum would lead to a decrease in retirement savings. Taking all the proposals together, saving rates …
Persistent link: https://www.econbiz.de/10013122741
little opportunity to increase their savings …
Persistent link: https://www.econbiz.de/10013125900
We revisit the role of social security in countering inadequate saving for retirement. We compute the optimal social security tax rate for households who lack the computational ability to solve dynamic optimization problems. Instead, they follow the simple rule of thumb of consuming and saving a...
Persistent link: https://www.econbiz.de/10013081922
The wide gulf between actual and predicted annuity demand has been well documented. However, a comparable gap exists between the current and ideal annuity market. In a world with costly and limited annuity products, we investigate what types of new annuity products could improve annuity market...
Persistent link: https://www.econbiz.de/10013160076
A canonical but untested assumption in economics is that choices are determined only by preferences and budget constraints, but not by how people approach decision making. In particular, it is believed that people behave “as if they optimized”, even if they do not engage in any formal...
Persistent link: https://www.econbiz.de/10013156332
This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...
Persistent link: https://www.econbiz.de/10013157190