In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …. One reason is the existence of an important inter-generational transmission of wealth, to be imputed to motives that are …

level of living standards in both working life and retirement. We use a life-cycle model of consumption and saving to …Much of the focus of the UK pensions policy debate over the past decade has been on the adequacy (or otherwise) of … private retirement saving. In this paper, we present the first assessment of the optimality of the retirement resources of …

Using a lifecycle model of consumption, saving and portfolio choice combined with linked survey and administrative data … on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … have access only to a risk‐free asset compared to when we account for the fact that much of their wealth is stored in …

We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across … individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD …). First, we find significant displacement effects of mandatory pension wealth on non-pension financial wealth at the mean, and …

of the processes generating income, social security wealth, retirement and consumption behaviour of households, and …The relationship between the demographic structure and the saving rate of a society is the reflection of the … evolution of aggregate income, saving and asset accumulation over the period 1994-2100. If fertility and mortality assumptions …

(before making additional payments). By contrast, debt declined most (so saving rose most) for unconstrained consumers. These …

, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there …

, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there …

In this paper, we conduct a U.S.- Japan comparison of the importance of retirement saving and of the determinants … thereof using micro data from the "U.S.- Japan Comparison Survey of Saving," a binational household survey conducted in 1996 … by the Institute for Posts and Telecommunications Policy of the Japanese Ministry of Posts and Telecommunications. …