Why mandate young borrowers to contribute to their retirement accounts?

DOI10.1007/S00199-019-01235-2MaRDI QIDQ2061097zbMATH OpenOpenAlexFDO

Authors Torben M. Andersen, Joydeep Bhattacharya

Publication date 13 December 2021

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://lib.dr.iastate.edu/cgi/viewcontent.cgi?article=1016&context=econ_workingpapers

zbMATH Keywords

dynamic efficiencymandated pensionssocial securitytime inconsistency

Mathematics Subject Classification ID

Actuarial mathematics (91G05)

Recommendations

• LONGEVITY, RETIREMENT, AND CAPITAL ACCUMULATION IN A RECURSIVE MODEL WITH AN APPLICATION TO MANDATORY RETIREMENT
• On financing retirement with an aging population
• Raising the mandatory retirement age and its effect on long-run income and pay-as-you-go (PAYG) pensions
• On myopia as rationale for social security
• Retirement saving with contribution payments and labor income as a benchmark for investments

Cites work

• A Model of the Consumption Response to Fiscal Stimulus Payments
• Efficiency and equilibrium when preferences are time-inconsistent
• Golden Eggs and Hyperbolic Discounting
• On myopia as rationale for social security
• Optimal consumption with time-inconsistent preferences
• Pensions, household saving, and welfare: A dynamic analysis of crowd out
• Rational overconfidence and social security: subjective beliefs, objective welfare
• Self-Control and the Theory of Consumption
• Social security and self control preferences
• Temptation and Self-Control
• Time inconsistency and retirement choice
• Time-Inconsistent Preferences and Social Security
• Time-inconsistent preferences and time-inconsistent policies

Cited in

(4)

• Capital accumulation game with quasi-geometric discounting and consumption externalities
• Procrastination, self-imposed deadlines and other commitment devices
• Excessive consumption and present bias
• Severance savings accounts and life-cycle savings

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