Savings for retirement under liquidity constraints: A note

Pension systems often entail some compulsory saving over which individuals have some degree of choice in terms of the pension plan in which to invest. We analyse whether the choice between alternative plans is affected by the presence of liquidity constraints during working life and we prove that the analytical conditions that determine the choice between different plans are the same in the constrained and unconstrained case.

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Year of publication:	2013
Authors:	Corsini, Lorenzo ; Spataro, Luca
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 118.2013, 2, p. 258-261
Publisher:	Elsevier
Subject:	Choice on pension plans \| Optimal portfolio composition \| Incomplete markets \| Liquidity constraints

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Type of publication:	Article
Classification:	D52 - Incomplete Markets ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; G11 - Portfolio Choice ; G23 - Pension Funds; Other Private Financial Institutions ; H55 - Social Security and Public Pensions
Source:	RePEc - Research Papers in Economics

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