This paper constructs a structural retirement model with hyperbolic preferences and uses it to estimate the effect of … substantial amounts of wealth for retirement. We find it is frequently difficult to distinguish empirically between models with … the two types of preferences on the basis of asset accumulation paths or consumption paths around the period of retirement …

, health care, and retirement planning, all of which are very important for the well-being of the elderly. Our review suggests …

I review the academic literature on defined contribution retirement plan design and participant behavior. While … employer-based retirement savings and liquid savings, the pros and cons of target date funds as default investment options …

The purpose of this paper is to discuss a few issues related to how best to communicate uncertainty about projections … Chilean regulator (Superintendencia de Pensiones, SP) that addresses directly how to convey that uncertainty and aims at …

resources for retirement, and that the elderly should be decumulating these resources. In the second part of the essay, we …

behavioral view and study saving and labor supply decisions in an aging population. The third viewpoint is from macroeconomics …

retirement savings contributions and information search processes. We combine ideas from the literature in psychology and … economics that provide opposing predictions regarding the impact of uncertainty on retirement savings contributions. Our results … that individual’s financial constraints. In particular, we find that uncertainty increases retirement contributions for …

is concave in the presence of income uncertainty. In this paper I show that concavity breaks down if we abandon time …-separability. Namely, if an agent maximizing an isoelastic recursive utility has preferences for early resolution of uncertainty, there … uncertainty …

the current and recent recessions. We show empirically that these saving spikes were short-lived and common to all working … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of … credit; temporary shocks to the supply of credit generate increases in saving only among younger agents. …