| 000 | 02534cam a22003497 4500 | ||
|---|---|---|---|
| 001 | w10260 | ||
| 003 | NBER | ||
| 005 | 20211020112838.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2004 mau fo 000 0 eng d | ||
| 100 | 1 |
_aScholz, John Karl. _920383 |
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| 245 | 1 | 0 |
_aAre Americans Saving "Optimally" for Retirement? / _cJohn Karl Scholz, Ananth Seshadri, Surachai Khitatrakun. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c2004. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w10260 |
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| 500 | _aFebruary 2004. | ||
| 520 | 3 | _aThis paper examines the degree to which Americans are saving optimally for retirement. Our standard for assessing optimality comes from a life-cycle model that incorporates uncertain lifetimes, uninsurable earnings and medical expenses, progressive taxation, government transfers, and pension and social security benefit functions derived from rich household data. We solve every household''s decision problem from death to starting age and then use the decision rules in conjunction with earnings histories to make predictions about wealth in 1992. Ours is the first study to compare, household by household, wealth predictions that arise from a life-cycle model that incorporates earnings histories for a nationally representative sample. The results, based on data from the Health and Retirement Study, are striking we find that the model is capable of accounting for more than 80 percent of the 1992 cross-sectional variation in wealth. Fewer than 20 percent of households have less wealth than their optimal targets, and the wealth deficit of those who are undersaving is generally small. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aH31 - Household _2Journal of Economic Literature class. |
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| 690 | 7 |
_aE21 - Consumption • Saving • Wealth _2Journal of Economic Literature class. |
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| 700 | 1 |
_aSeshadri, Ananth. _920575 |
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| 700 | 1 | _aKhitatrakun, Surachai. | |
| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w10260. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w10260 |
| 856 |
_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w10260 |
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_2ddc _cW-PAPER |
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_c337910 _d296472 |
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