by household optimization also arise in an economy with a rational planner who uses tools such as default savings and … highlight the distinction between planner optimization and household optimization. We show that planner optimization is a … substitute for household optimization and that this is true even when there are information asymmetries, so that households know …

This paper examines the substitution between pension wealth and household saving by studying Norway's 2011 pension … reform. The analysis identifies the effect of reductions in social security pension generosity on household saving using … reform, which corresponds to a five-year increase in household saving of about 27,000 NOK. When taking into account the …

We analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey …

This study aims to determine the factors that affect financial literacy in Japan using data from Osaka University …'s Preference Parameter Study in Japan. We examined fourteen variables covering respondents' demographic, socio-economic, and … the need for a formal financial education and social contact to boost financial literacy levels in Japan. …