In this paper, we empirically assess the causal relationship between trade and individual income risk and study the … from 1976 to 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry … exports (per worker) are strongly and causally related to income risk: Imports increase risk and exports decrease risk, and …

We study workers' idiosyncratic earnings risk over the life-cycle using a German administrative data set. Positive and … incomplete markets model. Moreover, age-varying risk implies a linear increase in consumption inequality late in working life …

better retirement planning. However, relatively little is known about the decision making process for retirement savings … preparation for retirement. This paper investigates the relationship between the financial literacy of members of pre-retirement …

with higher total household wealth, lower financial stress and higher expected retirement income. We find little evidence … assume responsibility for a greater share of their future retirement saving and health and long-term care costs. Financial … financial literacy is an important determinant of financial protection in the older pre-retirement population in Ireland. Using …

left on the labor market prior to retirement. This short horizon implies a more digressive replacement ratio. However …, there is a sufficiently short distance to retirement for which flat unemployment benefits can be the optimal contract as the … optimal contract that integrates unemployment insurance and retirement pension systems …

hundred age brackets and we investigate how changes in the birth rates, survival rates, and the retirement age affect the …, and the capital-income ratio. It follows that the pension composition in general and social security in particular is …

We show that people exposed to greater pension risk are less likely to invest in risky assets. We exploit a reform that …—making funding ratios a fund-specific measure of pension risk. The effect of pension risk is stronger for people who are better … affect investments in a pre-reform period, nor does it affect bequest intentions, (expected) retirement, or the motivations …

Analysing the US Panel Study of Income Dynamics, we present a new empirical method to investigate the extent to which … households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset …