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Reliable estimates of actual household saving rates in New Zealand have proved elusive as existing sources of data have … in the past given disparate estimates, making it difficult to reach a consensus of the real rate of household saving. For … different estimates of the overall household saving rate, although both were negative in 2008 and both below their long …
Persistent link: https://www.econbiz.de/10012115613
?erences in the national saving rates between the UK, US and Italy. Our work suggests that the US saving rate is lower principally … because Americans on average retire later. In contrast, the Italian saving rate is higher predominantly because Italians are … to explain little of the cross-sectional di?erences in saving rates. The study accounts for the possible importance of …
Persistent link: https://www.econbiz.de/10008852517
Using a model where households can save in either a safe asset or in an illiquid, tax-advantaged pension, we assess the extent to which those who recently reached the state pension age in the UK have saved optimally for retirement. The policy environment specified closely matches that prevailing...
Persistent link: https://www.econbiz.de/10010402536
private retirement saving. In this paper, we present the first assessment of the optimality of the retirement resources of … level of living standards in both working life and retirement. We use a life-cycle model of consumption and saving to …
Persistent link: https://www.econbiz.de/10010402537
decompose the differences in the national saving rates between the UK, US and Italy. Our work suggests that the US saving rate … is lower principally because Americans on average retire later. In contrast, the Italian saving rate is higher … and benefit systems are able to explain little of the cross-sectional differences in saving rates. The study accounts for …
Persistent link: https://www.econbiz.de/10012732550
Using data from the Health and Retirement Study, we estimate reduced form retirement and wealth equations. The retirement equation relates the probability of retiring to the quot;premium valuequot;, a forward looking measure of the future value of pensions and social security that better...
Persistent link: https://www.econbiz.de/10012786844
A large body of microeconomic evidence supports Friedman (1957)'s proposition that household income can be reasonably well described as having both transitory and permanent components. We show how to modify the widely-used macroeconomic model of Krusell and Smith (1998) to accommodate such a...
Persistent link: https://www.econbiz.de/10013034318
This paper studies consumption and savings decisions of Danish households before and during the financial crisis as well as in the more recent years characterized by negative policy rates. While all household groups decreased their consumption ratios immediately in response to the financial...
Persistent link: https://www.econbiz.de/10011696538
There is a common perception that households are under-saving for retirement - indeed this has motivated many recent …
Persistent link: https://www.econbiz.de/10012997360
This paper examines the composition and distribution of total wealth for a cohort of 51 to 61 year olds from the Health and Retirement Study (HRS), and the role of pensions in forming retirement wealth. Pension coverage is widespread, covering two thirds of households and accounting for one...
Persistent link: https://www.econbiz.de/10014181830