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on Economics of Ageing |
| By: | Gabueva Larisa (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | At present, great importance is attached to the problem of maintaining the professional health of the working-age population and prolonging professional longevity in the world and in the Russian Federation. This problem has become especially urgent in recent years, in connection with the change in the country's retirement age. |
| Keywords: | DEMOGRAPHY, GENDER AND AGE CHARACTERISTICS OF THE POPULATION, OLDER AGE GROUPS, INCIDENCE BY THE MAIN CLASS OF DISEASES, CAUSES OF MORTALITY OF THE OLDER GENERATION, GERIATRIC PAYMENT MODELS; PALLIATIVE CARE ORGANIZATION |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:s21058&r=age |
| By: | Abigail Hurwitz; Olivia S. Mitchell |
| Abstract: | Older people often express regret about financial decisions made earlier in life that left them susceptible to old-age insecurity. Prior work has explored one outcome, saving regret, or peoples’ expressed wish that they had saved more earlier in life. The present paper extends attention to five additional areas regarding financial decisions, examining whether older Americans also regret not having insured better, claimed benefits and quit working too early, and becoming financially dependent on others. Using a controlled randomized experiment conducted on 1,764 respondents age 50+ in the Health and Retirement Study, we show that providing people objective longevity information does alter their self-reported financial regret. Specifically, giving people information about objective survival probabilities more than doubled regret expressed about not having purchased long term care, and it also boosted their regret by 2.4 times for not having purchased lifetime income. We conclude that information provision can be a potent, as well as cost-effective, method of alerting people to retirement risk. |
| JEL: | D14 D15 D83 G22 G41 G51 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:30696&r=age |
| By: | Blaufus, Kay; Milde, Michael; Schaefer, Marcel |
| Abstract: | Using a series of experiments, we examine whether the additional opportunity to save retroactively for retirement at the time of tax filing increases overall retirement savings. Our findings show that introducing the additional savings opportunity at tax time increases the total savings rate by almost 5 percentage points. This positive effect holds regardless of whether retirement savings are taxed immediately (back-loaded pension plans) or deferred (front-loaded pension plans) or whether subjects expect back taxes or a tax refund. We show that the effect is not due to higher tax salience at tax time but that the additional offer to save nudges impulsive savings behavior. Policymakers may thus consider the introduction of an additional savings opportunity at tax time as a policy tool to encourage retirement savings. In addition, policymakers should consider the advantage of immediate over deferred taxation in increasing retirement savings. We show that the savings gap between immediate and deferred taxation found in previous studies can expand further if savings are additionally allowed at tax filing. |
| Keywords: | Retirement savings,tax incentives,impulsive savings,tax salience,nudging,deferred taxa-tion |
| JEL: | D9 D14 D15 G51 H31 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:arqudp:272&r=age |
| By: | Gopi Shah Goda (Stanford University); Matthew R. Levy (London School of Economics and Political Science); Colleen Flaherty Manchester (University of Minnesota - Twin Cities); Aaron Sojourner (W.E. Upjohn Institute for Employment Research); Joshua Tasoff (Claremont Graduate University); Jiusi Xiao (Claremont Graduate University) |
| Abstract: | We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers’ retirement-savings decisions. In both conditions, the calculator projects workers’ retirement income goals. In the treatment condition, it also projects retirement income based on defined-contribution savings, prominently displays the gap between projected goal and actual retirement income, and allows users to interactively explore how alternative, future contribution choices would affect the gap. The treatment increased average annual retirement contributions by $174 (2.3 percent). However, effects were larger for those with greater financial knowledge, suggesting this type of tool complements, rather than substitutes for, underlying financial capability. |
| Keywords: | retirement planning, retirement saving, exponential-growth bias, present bias, financial literacy, financial capability |
| JEL: | D14 G53 J32 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:upj:weupjo:22-378&r=age |
| By: | Maleva Tatiana (Russian Presidential Academy of National Economy and Public Administration); Kartseva Marina (Russian Presidential Academy of National Economy and Public Administration); Kuznetsova Polina (Russian Presidential Academy of National Economy and Public Administration); Salmina Alla (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | In this paper, a study of the socio-economic situation of persons experiencing "sandwich syndrome" is carried out. The work includes a critical analysis of the literature on the impact of the "sandwich syndrome" on various aspects of human life, as well as an empirical analysis of the prevalence, demographic and socio-economic characteristics of the "sandwich syndrome" in Russia. |
| Keywords: | sandwich syndrome |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:s21069&r=age |
| By: | Shepard, Scott (Mercury Publication) |
| Abstract: | Like a number of other states, Oregon has been hampered in its pension reform efforts since 1996 by its state supreme court’s embrace of the “California Rule,†a doctrine arising, in Oregon’s case, from a misunderstanding of federal Contract Clause preced |
| URL: | http://d.repec.org/n?u=RePEc:ajw:wpaper:07655&r=age |
| By: | Henrique S. Basso, Richard Jaimes, Omar Rachedi,; Richard Jaimes; Omar Rachedi |
| Abstract: | The consumption carbon intensity – defined as the carbon emissions per unit of consumption – varies with age: it is hump-shaped over the life cycle, but it becomes flatter at high levels of income. We document this novel fact using U.S. household-level consumption data. This relationship does not hold only at the individual level, but also at the aggregate: we leverage information across U.S. states and countries to show that the carbon intensity of the economy de- pends on the population age structure. Consequently, policy changes that alter carbon prices affect relatively more middle-age individuals, and especially so in low-income economies. |
| Keywords: | Climate Change, Life Cycle, Carbon Emissions, Demographic Transition. |
| Date: | 2022–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:col:000416:020565&r=age |