(DC) retirement plans. Retired households need to manage risks and generate income from their savings. We study the …Households in many countries reach retirement with lump sums of financial wealth accumulated in defined contribution … dynamics of retirement wealth and portfolio allocation using the three wealth waves of the Household, Income and Labour …

Over the life-cycle, wealth holdings tend to be highest in the early part of retirement. The quality of financial …

to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure … on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … for retirement preparedness. Notwithstanding this, we find that even quite impatient households in the population we study …

We investigate the optimal savings decisions for investors with access to pre-tax (traditional) and post-tax (Roth …) versions of tax-advantaged retirement accounts. The model features a progressive tax schedule and uncertainty over future tax … rates. Traditional accounts are valuable for hedging retirement account performance and managing current income near tax …

We find that health cost risk lowers optimal annuity demand at retirement. If medical expenses can be sizeable early in … retirement, full annuitisation at retirement is no longer optimal because agents do not have enough time to build a liquid wealth … additional annuitisation after retirement results in welfare gains of at most 2.5% when facing health cost risk, and negligible …

Using a new bilateral international tax database, we investigate the effects of dividend taxes on foreign equity … portfolio holdings. Extending a model of capital market equilibrium with dividend taxation to an international setting, we … dividend taxes faced by the country’s domestic investors but not the taxes faced by its foreign portfolio investors. More …