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We compare two institutions head on, a family compact – a parent makes a transfer to her parent in anticipation of a possible future gift from her children – with a pay-as-you-go, social security system in a lifecycle model with endogenous fertility wherein children are valued both as...
Persistent link: https://www.econbiz.de/10013101148
When the financial positions of pension funds worsen, regulations prescribe that pension funds reduce the gap between their assets (invested contributions) and their liabilities (accumulated pension promises). This paper quantifies the business cycle effects and distributional implications of...
Persistent link: https://www.econbiz.de/10011869913
information from two household surveys, and by so doing, attempts to assess the relative importance of precautionary saving and … analyses of these two datasets show that precautionary saving plays a relatively important role in explaining the lower than … expected wealth decumulation rate of the retired elderly, at least in the case of Japan, even though both precautionary saving …
Persistent link: https://www.econbiz.de/10011912032
literature on household saving behavior in Japan (with emphasis on the author's own past research) to shed light on whether or … the age structure of the population on the saving rate, the saving behavior of retired households, saving motives, the …
Persistent link: https://www.econbiz.de/10012195738
This paper focuses on the development of the funded, occupational pension (OP) system in Denmark. Launched in 1987, as a grand agreement between social partners backed by the government, and as part of the collective wage bargaining process, the Danish OP system differs from the set-up in most...
Persistent link: https://www.econbiz.de/10012154531
households’ voluntary saving using administrative micro data with comprehensive third-party reported information on taxpayers … reduce voluntary saving when faced with a rise in mandatory saving. Our results are confirmed by the finding that workers who … move between the public and the private sector, which have different mandatory saving rates, do not change their voluntary …
Persistent link: https://www.econbiz.de/10013440376
In this paper, we analyze the saving motives of European households using micro-data from the Household Finance and … Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives … most important saving motive of European households when the proportion of households saving for each motive is used as the …
Persistent link: https://www.econbiz.de/10015047840
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 future trends in, its household saving rate; second, the rapid aging of Japan …
Persistent link: https://www.econbiz.de/10010332306
The authors define and estimate measures of economic preparation for retirement based on a complete inventory of economic resources while taking into account the risk of living to advanced old age and the risk of high out-of-pocket spending for health care services. They ask whether, in a sample...
Persistent link: https://www.econbiz.de/10014177378
Languages differ widely in the ways they encode time. I test the hypothesis that languages that grammatically associate the future and the present, foster future-oriented behavior. This prediction arises naturally when well-documented effects of language structure are merged with models of...
Persistent link: https://www.econbiz.de/10014178432