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The selfish life-cycle model or hypothesis is, together with the dynasty or altruism model, the most widely used theoretical model of household behavior in economics, but does this model apply in the case of a country like Japan, which is said to have closer family ties than other countries? In...
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We adapt the design of five experimental studies on retirement decision-making and conduct reproductions with a larger … subjects collect retirement benefits as lump-sum instead of annuities, they choose to retire later. The duration of retirement … affects the saving behavior of the subjects. Savings are higher when they are incentivized with matching contributions than …
Persistent link: https://www.econbiz.de/10013491806
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 … used to assess the adequacy of households' retirement resources suggests that using a simple replacement rate benchmark …
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to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure … on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … for retirement preparedness. Notwithstanding this, we find that even quite impatient households in the population we study …
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This paper specifies a life cycle model of saving and employment and uses it to analyze crowd out of private household saving by public and private pensions. Some parameters of the model are estimated and others are calibrated to match life cycle employment and asset profiles, and Social...
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