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How has the emergence of defined contribution pension plans, such as 401(k)s, affected the financial security of future retirees? We consider this question using a detailed survey of pension formulas in the Survey of Consumer Finances. Our simulations show that average and median pension...
Persistent link: https://www.econbiz.de/10012763592
-post costs of poor planning. We show that, given a commitment device, people self-impose deadlines that are binding but require … theory predicts. For example, monetary incentives for accurate prediction ameliorate the planning fallacy while incentives …
Persistent link: https://www.econbiz.de/10012753494
.e., impulsivity and length of financial planning horizon, smokers are more impatient. However, neither of these measures is … measures of time preference and self-control, i.e., impulsivity and financial planning, are more closely related to the smoking …
Persistent link: https://www.econbiz.de/10012778234
estimates show that planning behavior can explain the differences in savings and why some people arrive close to retirement with …
Persistent link: https://www.econbiz.de/10012778261
the effect of a simple scalable planning intervention on a repeated behavior using a randomized design involving 877 … weeks. In contrast to recent studies, we find that the planning intervention did not have a positive effect on behavior and … planning is helpful and despite clear evidence that they engaged with the planning process …
Persistent link: https://www.econbiz.de/10012911692
How likely is a catastrophic event that would substantially reduce the capital stock, GDP and wealth? How much should society be willing to pay to reduce the probability or impact of a catastrophe? We answer these questions and provide a framework for policy analysis using a general equilibrium...
Persistent link: https://www.econbiz.de/10013150842
-contingent, planning problem, which may involve costly deliberation in every state of nature, and by letting the decision-maker deliberate …
Persistent link: https://www.econbiz.de/10013224897
This Economica Coase Lecture reviews research that has revolutionized the field of international trade and foreign direct investment. It explains the motivation behind the development of new analytical frameworks, the nature of these frameworks, and the empirical studies that sprouted from them
Persistent link: https://www.econbiz.de/10013081834
This paper links data on establishments and individuals to analyze the role of establishments in the increase in inequality that has become a central topic in economic analysis and policy debate. It decomposes changes in the variance of ln earnings among individuals into the part due to changes...
Persistent link: https://www.econbiz.de/10013047785
Despite the fact that importing and exporting are extremely rare firm activities, economists generally devote little attention to the role of firms when discussing international trade. This paper summarizes key differences between trading and non-trading firms, demonstrates how these differences...
Persistent link: https://www.econbiz.de/10012755384