Who Cares about the Day after Tomorrow? Pension Issues when Households are Myopic or Time Inconsistent
Borsch-Supan, Axel; Hartl, Klaus; Leite, Duarte Nuno | April 2017
Abstract
Pension economics has traditionally guided pension policy with the help of formal models based on individuals who think in a life cycle context with perfect foresight, full information, and in a time-consistent manner. This paper sheds light on selected aspects of pension economics when these assumptions do not hold. We focus on three aspects which are particularly relevant for the quickly aging Asian economies: the volume of savings for old-age provisions, international diversification of retirement savings, and global spillover effects of pension reforms.
Citation
Borsch-Supan, Axel; Hartl, Klaus; Leite, Duarte Nuno. 2017. Who Cares about the Day after Tomorrow? Pension Issues when Households are Myopic or Time Inconsistent. © Asian Development Bank Institute. http://hdl.handle.net/11540/7062.Keywords
Taxation
Public Debt
Local Government
Debt Management
Pension Funds
Mutual Funds
Social Equity
Financial Aspects
Fiscal Policy
Finance
Public Finance
Governance
National Budget
Budgetary Policy
Educational Budget
Public Financial Management
Financial System
Financial Statistics
Local taxation
Options
Government
Local government
Taxation
Employee pension trusts
Investment management
Investments
Multiemployer pension plans
Keogh plans
Individual retirement accounts
Pension plans
Employee pension trusts
Pension trusts
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