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The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

Abel, Andrew B. - 2010

Is the stock market boom a result of the baby boom? This paper develops an overlapping generations model in which a baby boom is modeled as a high realization of a random birth rate, and the price of capital is determined endogenously by a convex cost of adjustment. A baby boom increases...

Persistent link: https://www.econbiz.de/10012762982

Retirement and Wealth

Gustman, Alan L.; Steinmeier, Thomas L. - 2022

This paper estimates reduced form retirement and wealth equations, and analyzes the relationship between them. Data are from the first four waves of the longitudinal Health and Retirement Study, individuals born from 1931 to 1941. Single equation retirement models relate the probability of...

Persistent link: https://www.econbiz.de/10013310126

The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks

Abel, Andrew B. - 2021

With fixed costs of participating in the stock market, consumers with high income will participate in the stock market, but consumers with lower income will not participate. If a fully-funded defined-contribution social security system tries to exploit the equity premium by selling a dollar of...

Persistent link: https://www.econbiz.de/10013245704

Aggregate Savings in the Presence of Private and Social Insurance

Abel, Andrew B. - 2021

In the presence of uncertain lifetimes, social security has the characteristics of an annuity: a consumer pays a tax when young in exchange for receiving a social security benefit if he survives to be old. If consumers have identical ex ante mortality probabilities, then a fully funded social...

Persistent link: https://www.econbiz.de/10013247217

Uncertain Lifetimes, Pensions, and Individual Saving

Hubbard, R. Glenn - 2021

Attempts to measure the impacts of pensions on household saving have occupied much of the literature in empirical public finance over the past decade. The emphasis here is on the annuity insurance aspects of social security and pensions. A simple life-cycle model is put forth to show that even...

Persistent link: https://www.econbiz.de/10013237595

Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security Benefits and the Payroll Tax Rate

Feldstein, Martin S.; Samwick, Andrew - 2021

In an earlier paper we analyzed a method of combining traditional tax financed pay-as-you-go Social Security benefits with annuities financed by Personal Retirement Accounts. We showed that such a combination could maintain the level of retirement income projected in current Social Security law...

Persistent link: https://www.econbiz.de/10013237928

Aging, Saving, and Public Pensions in Japan

Horioka, Charles - 2007

We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...

Persistent link: https://www.econbiz.de/10012776458

Demographic Change, Social Security Systems, and Savings

Bloom, David E. - 2010

In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with … little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing …

Persistent link: https://www.econbiz.de/10012760611

How Household Portfolios Evolve after Retirement : The Effect of Aging and Health Shocks

Coile, Courtney - 2010

In this paper, we study how the portfolios of elderly U.S. households evolve after retirement, using data from the Health and Retirement Study (HRS). In particular, we investigate the influence of aging and health shocks on a household%u2019s ownership of various assets and on the dollar value...

Persistent link: https://www.econbiz.de/10012760785

Social Security Expectations and Retirement Savings Decisions

Dominitz, Jeff - 2002

Retirement savings decisions should depend on expectations of Social Security retirement income. Persons may be … savings …

Persistent link: https://www.econbiz.de/10012787376