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Optimal savings for retirement : The role of individual accounts and disaster expectations

Optimal savings for retirement : The role of individual accounts and disaster expectations

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LEBLANC, Julia, Almuth SCHOLL, 2011. Optimal savings for retirement : The role of individual accounts and disaster expectations

@techreport{LeBlanc2011Optim-21965, series={Discussion Paper / 1 ; Economic Studies;33/2011}, title={Optimal savings for retirement : The role of individual accounts and disaster expectations}, year={2011}, author={LeBlanc, Julia and Scholl, Almuth} }

<rdf:RDF xmlns:dcterms="http://purl.org/dc/terms/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dspace="http://digital-repositories.org/ontologies/dspace/0.1.0#" xmlns:foaf="http://xmlns.com/foaf/0.1/" xmlns:void="http://rdfs.org/ns/void#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/21965"> <dc:creator>Scholl, Almuth</dc:creator> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2013-03-25T13:46:23Z</dcterms:available> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2013-03-25T13:46:23Z</dc:date> <dc:creator>LeBlanc, Julia</dc:creator> <dcterms:rights rdf:resource="https://rightsstatements.org/page/InC/1.0/"/> <dspace:isPartOfCollection rdf:resource="https://kops.uni-konstanz.de/rdf/resource/123456789/46"/> <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/21965"/> <dcterms:title>Optimal savings for retirement : The role of individual accounts and disaster expectations</dcterms:title> <foaf:homepage rdf:resource="http://localhost:8080/jspui"/> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> <dc:rights>terms-of-use</dc:rights> <dc:contributor>Scholl, Almuth</dc:contributor> <dc:contributor>LeBlanc, Julia</dc:contributor> <dcterms:isPartOf rdf:resource="https://kops.uni-konstanz.de/rdf/resource/123456789/46"/> <dc:language>eng</dc:language> <dcterms:abstract xml:lang="eng">We employ a life-cycle model with income risk to analyze how tax-deferred individual accounts a ect households' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We contrast addon accounts with carve-out accounts that partly replace social security contributions. Quantitative results suggest that making add-on accounts mandatory has adverse welfare e ects across income groups. Carve-out accounts generate welfare gains for high and middle income earners but welfare losses for low income earners. In the presence of rare stock market disasters, individual accounts with default portfolio allocation crowd out direct stockholding and substantially reduce welfare.</dcterms:abstract> <dcterms:issued>2011</dcterms:issued> </rdf:Description> </rdf:RDF>

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