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This paper analyses a model in which employees are biased in their perception of their optimal contribution rates or asset allocations in defined contribution pension plans. The optimal default is characterised as a function of the parameters. It is shown that, for some values of the parameters,...
Persistent link: https://www.econbiz.de/10012144202
What is the optimal default contribution rate or default asset allocation in pension plans? Could active decision (i.e., not setting a default and forcing employees to make a decision) be optimal? These questions are studied in a model in which each employee is biased regarding her optimal...
Persistent link: https://www.econbiz.de/10012144238
Long-run saving dynamics are a crucial component of consumption-saving behavior. This paper makes two contributions to …-run effects of a large financial windfall on saving behavior. For identification, we combine a longitudinal panel of … our findings through the lens of a generalized consumption-saving framework, and show that life-cycle consumption models …
Persistent link: https://www.econbiz.de/10013208751
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 tighening of … credit; temporary shocks to the supply of credit generate increases in saving only among younger agents. …
Persistent link: https://www.econbiz.de/10010500212
In this paper, we examine whether adult education delays retirement and increases labour force participation among the … indicate no effects of adult education on the timing of retirement. …
Persistent link: https://www.econbiz.de/10010273961
This paper studies empirically the consequences of retirement on health. We make use of a targeted retirement offer to … army employees 55 years of age or older. Before the offer was implemented in the Swedish defense, the normal retirement age … for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the …
Persistent link: https://www.econbiz.de/10010464457
-time retirement behaviour in Sweden. During the 1980s, older workers had the option of partial retirement with an income replacement … women chose part-time retirement after the reduction in benefit levels in 1981. There was an approximate 4 percentage point … drop in the partial retirement propensity among eligible 60-year old men, and a 5.7 percent drop among women. This …
Persistent link: https://www.econbiz.de/10010321446
situation post retirement. However, economic motives seem to be more important for younger pensioners. …
Persistent link: https://www.econbiz.de/10010321447
Projections show public pensions to take an increasing share of GDP. This has lead to increased activity in the reform … hold back increasing expenditure by decreasing benefit levels, increasing statutory retirement age etc., while the latter …
Persistent link: https://www.econbiz.de/10013208409
, working hours, timing of retirement – also contain a collective part not taken into consideration in the individual's utility …
Persistent link: https://www.econbiz.de/10013208467