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Cigno, Alessandro - Institute for the Study of Labor (IZA) - 2005

effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or …

Persistent link: https://www.econbiz.de/10005762141

Do Mandatory Pensions Decrease Household Savings? Evidence for the Netherlands

Euwals, Rob - Institute for the Study of Labor (IZA) - 2000

all Dutch inhabitants over age 64; and an occupation-specific capital-funded part that provides supplementary retirement … income. The goal of this paper is to test for the effect of mandatory pensions on discretionary household savings. The data … pensions have a significant negative impact on savings motives with respect to old age. Concerning the effect on household …

Persistent link: https://www.econbiz.de/10005703163

Shifting Perspectives in Pensions

Góra, Marek; Palmer, Edward - Institute for the Study of Labor (IZA) - 2004

This paper addresses the questions of what is an economically efficient pension system, what are the externalities and what are the risks of the four alternative pension systems: financial defined contribution (FDC), notional or non-financial defined contribution (NDC), financial defined benefit...

Persistent link: https://www.econbiz.de/10005703380

Splitting Tournaments

Leuven, Edwin; Oosterbeek, Hessel; van der Klaauw, Bas - Institute for the Study of Labor (IZA) - 2010

In this paper we investigate how heterogeneous agents choose among tournaments with different prizes. We show that if the number of agents is sufficiently small, multiple equilibria can arise. Depending on how the prize money is split over the tournaments, these may include, for example, a...

Persistent link: https://www.econbiz.de/10008680895

Financial Work Incentives for Disability Benefit Recipients: Lessons from a Randomised Field Experiment

Bütler, Monika; Deuchert, Eva; Lechner, Michael; … - Institute for the Study of Labor (IZA) - 2014

Disability insurance (DI) beneficiaries lose part of their benefits if their earnings exceed certain thresholds (“cash-cliffs”). This implicit taxation is considered the prime reason for low DI outflow. We analyse a conditional cash program that incentivises work related reductions of...

Persistent link: https://www.econbiz.de/10011105054

Health Status, Disability and Retirement Incentives in Belgium

Jousten, Alain; Lefèbvre, Mathieu; Perelman, Sergio - Institute for the Study of Labor (IZA) - 2013

identified: old-age pensions, conventional early retirement, disability insurance, and unemployment insurance are the most …Many Belgian retire well before the statutory retirement age. Numerous exit routes from the labor force can be … prominent ones. We analyze the retirement decision of Belgian workers adopting an option value framework, and pay special …

Persistent link: https://www.econbiz.de/10011271992

Retirement Incentives in Belgium: Estimations and Simulations Using SHARE Data

Jousten, Alain; Lefèbvre, Mathieu - Institute for the Study of Labor (IZA) - 2013

The paper studies retirement behavior of wage‐earners in Belgium – for the first time using rich survey data to explore … retirement incentives as faced by individuals. Specifically, we use SHARE data to estimate a model à la Stock and Wise (1990 … explicitly takes into account the different take‐up rates of the various early retirement exit paths across time and ages. The …

Persistent link: https://www.econbiz.de/10011271996

Present-Biased Preferences and Credit Card Borrowing

Meier, Stephan; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2009

Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...

Persistent link: https://www.econbiz.de/10004980269

Risk and Saving in Two-Person Households: More Scope for Precautionary Saving

Apps, Patricia; Andrienko, Yuri; Rees, Ray - Institute for the Study of Labor (IZA) - 2012

The existing literature suggests that when the saving decision of two-earner households under risk is analysed, standard results on the existence of precautionary saving no longer apply: precautionary saving is obtained if and only if very stringent conditions hold. This paper shows that when...

Persistent link: https://www.econbiz.de/10010812036

Discounting Financial Literacy: Time Preferences and Participation in Financial Education Programs

Meier, Stephan; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2008

Many policy makers and economists argue that financial literacy is key to financial well-being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to...

Persistent link: https://www.econbiz.de/10005761687