pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

investment strategy for DC pensions. Workers who follow identical investment strategies but who retire a few years apart can … receive DC pensions that are startlingly unequal. Second, it is hard for ordinary workers, as opposed to optimal planners, to …

investment strategy for DC pensions. Workers who follow identical investment strategies but who retire a few years apart can … receive DC pensions that are startlingly unequal. Second, it is hard for ordinary workers, as opposed to optimal planners, to …

on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure … higher‐return tax‐advantaged private pensions and in housing. Second, we find that only the most patient households achieve …

importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …

on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … used to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure … higher-return tax-advantaged private pensions and in housing. Second we find that only the most patient households achieve the …