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Dissaving After Retirement
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Book Synopsis Dissaving After Retirement by : B. Douglas Bernheim
Download or read book Dissaving After Retirement written by B. Douglas Bernheim and published by . This book was released on 1984 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we examine several aspects of saving and dissaving after retirement. First, we argue that existing evidence on bequeathable age-wealth profiles is suspect, and provide new evidence based on longitudinal data indicating that significant dissaving may occur, particularly among single individuals and early retirees. Second, we argue that, in the presence of annuities, estimates of dissaving should be adjusted by including the simple discounted value of benefits in total wealth. Such adjustments reveal relatively little dissaving among any group of retirees. Finally, we test the pure life cycle hypothesis by observing the behavioral response of rates of accumulation to involuntary annuitization, and find empirical refutation of life cycle implications.
Download or read book Dissaving After Retirement written by and published by . This book was released on 1984 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Dissaving Behavior of the Retired Elderly by : James Clifford Cosgrove
Download or read book The Dissaving Behavior of the Retired Elderly written by James Clifford Cosgrove and published by . This book was released on 1987 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Patterns of Dissaving in Retirement by :
Download or read book Patterns of Dissaving in Retirement written by and published by . This book was released on 2000 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Patterns of Dissaving in Retirement by : Steven Haider
Download or read book Patterns of Dissaving in Retirement written by Steven Haider and published by . This book was released on 2000 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Close Look at Dissaving in the Longitudinal Retirement History Survey by : Michael Kuehlwein
Download or read book A Close Look at Dissaving in the Longitudinal Retirement History Survey written by Michael Kuehlwein and published by . This book was released on 1994 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Dissaving of Annuity Wealth and Marketable Wealth in Retirement by : Thad W. Mirer
Download or read book The Dissaving of Annuity Wealth and Marketable Wealth in Retirement written by Thad W. Mirer and published by . This book was released on 1992 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Life-cycle Saving and Dissaving in Retirement by : Thad Mirer
Download or read book Life-cycle Saving and Dissaving in Retirement written by Thad Mirer and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring Dissaving Out of Retirement Wealth by : Paul A. Smith
Download or read book Measuring Dissaving Out of Retirement Wealth written by Paul A. Smith and published by . This book was released on 2007 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The approaching retirement of the baby boomers, accelerating trend from DB to DC pension plans, and growing uncertainty over the solvency of Social Security all raise important questions about the ability of households to finance their retirement years with liquid assets, rather than annuities. We use data from four waves of the HRS to investigate how households spend down their retirement wealth, and, in particular, whether they appear to run down their retirement accounts too quickly. We find no evidence of excessive dissaving over the period 1998 to 2004. Indeed, the annuitized value of total wealth rose for most households over this period, suggesting that households are not running down their assets too fast, given their remaining life expectancies.
Book Synopsis Saving, Dissaving, and the Elderly by : David Nathan Weil
Download or read book Saving, Dissaving, and the Elderly written by David Nathan Weil and published by . This book was released on 1990 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Life Cycle Saving and Dissaving Revisited Across Three-tiered Income Groups by : Robert Holzmann
Download or read book Life Cycle Saving and Dissaving Revisited Across Three-tiered Income Groups written by Robert Holzmann and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The lifecycle approach is the workhorse to model saving decisions of individuals. It conjectures individuals preferring a constant consumption stream across their lifecycle saving till retirement and dis-saving thereafter. The reality is often at odd with this assumption giving rise to our conjectured three-tier life-cycle model by income groups. The low-income tier does little saving and in consequence little dissaving; the high-income tier does save during active life and profits often from bequests, but no dissaving is taking place unless hit by a major shock; only the middle tier behaves broadly as predicted. The drivers for such a differentiated behavior are conjectured to be threefold: External settings such as a multitude of shocks; preferences deviations such a behavioral bias, and institutional settings and interventions, such as minimum income provisions. The paper outlines these corresponding hypotheses, presents some first conceptual and empirical support, and reviews the international literature on the conjectured drivers. The review of international literature does not shatter our conjecture of a broadly three-tiered and reframed applicability of the life cycle model but offers some first precisions and wrinkles. The paper proposes next conceptual and empirical steps, including enriching existing wealth distribution estimates at retirement with sound estimates of social insurance wealth (pension and health), focused hypothesis testing of the key drivers with household panel data, and formulating policy responses if the new hypotheses are not rejected.
Book Synopsis Issues in Pension Economics by : Zvi Bodie
Download or read book Issues in Pension Economics written by Zvi Bodie and published by University of Chicago Press. This book was released on 1987-03-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in 1980. Issues in Pension Economics, the third in a series of four projected volumes to result from thsi study, covers a broad range of pension issues and utilizes new and richer data sources than have been previously available. The papers in this volume cover such issues as the interaction of pension-funding decisions and corporate finances; the role of pensions in providing adequate and secure retirement income, including the integration of pension plans with social security and significant drops in the U.S. saving rate; and the incentive effects of pension plans on labor market behavior and the implications of plans on labor market behavior and the implications of plans for different demographic groups. Issues in Pension Economics offers important empirical studies and makes valuable theoretical contributions to current thinking in an area that will most likely continue to be a source of controversy and debate for some time to come. The volume should prove useful to academics and policymakers, as well as to members of the business and labor communities.
Book Synopsis Aging and the Macroeconomy by : National Research Council
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book Growing Older in America written by and published by . This book was released on 2007 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Housing in Retirement Across Countries by : Makoto Nakajima
Download or read book Housing in Retirement Across Countries written by Makoto Nakajima and published by . This book was released on 2015 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The "retirement saving puzzle" in the literature is the phenomenon that many households in the U.S. have significant wealth late in life, contrary to the predictions of a simple life-cycle model. In this project, we examine cross-country differences in saving behavior of retirees in order to weigh in on the discussion of the puzzle. First, we find that countries in our sample vary noticeably in the extent of the puzzle: one group of countries, in South and Central Europe, look like the U.S., while in another group, in Northern Europe, retirees spend down their wealth much more rapidly. Second, it appears that the rate of dissaving in retirement is correlated with the extent of public coverage of healthcare and long-term care, and that the differences in saving happen predominantly through dissaving of financial assets, while housing assets are less affected by this risk. In a quantitative experiment, using a life-cycle model of saving in retirement, we measure the role of out-of-pocket medical spending risk in accounting for differences in observed saving patterns among retirees in the U.S. and Sweden, considering separately housing and financial assets. The model predicts that this risk accounts, on average across age, for one-half of the difference in median net worth between U.S. and Sweden, and for about 70% of the difference in median financial assets. The role of risk diminishes with age, and is seen primarily in financial asset saving, while housing assets do not appear to respond to spending risk, thus suggesting that housing is not a precautionary asset.
Book Synopsis Preparing for an Aging World by : National Research Council
Download or read book Preparing for an Aging World written by National Research Council and published by National Academies Press. This book was released on 2001-06-26 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aging is a process that encompasses virtually all aspects of life. Because the speed of population aging is accelerating, and because the data needed to study the aging process are complex and expensive to obtain, it is imperative that countries coordinate their research efforts to reap the most benefits from this important information. Preparing for an Aging World looks at the behavioral and socioeconomic aspects of aging, and focuses on work, retirement, and pensions; wealth and savings behavior; health and disability; intergenerational transfers; and concepts of well-being. It makes recommendations for a collection of new, cross-national data on aging populationsâ€"data that will allow nations to develop policies and programs for addressing the major shifts in population age structure now occurring. These efforts, if made internationally, would advance our understanding of the aging process around the world.
Book Synopsis Public Finance and Public Policy by : Jonathan Gruber
Download or read book Public Finance and Public Policy written by Jonathan Gruber and published by Macmillan. This book was released on 2005 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapters include: "Income distribution and welfare programs", "State and local government expenditures" and "Health economics and private health insurance".
