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“unlocking” of funds transferred from pension plans to locked-in retirement plans.The funds are normally transferred on the … termination or retirement of a pension plan member. Locked-in retirement plans limit the access of plan owners to the former … inherit from their more senior, but possibly more frugal, parents.While all locked-in retirement plans share the common …
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the interaction between current wealth, savings rate, interest rate and retirement age. The model also suggests a lower …
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This paper analyses the conduct of monetary policy in an environment in which cyclical swings in risk appetite affect households' propensity to save. It uses a New Keynesian model featuring external habit formation to show that taking note of precautionary saving motives justifies an...
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