How Would 401(k) Rothification Influence Consumption, Saving, and Social Security Claiming Behavior?

The US incentivizes retirement saving in 401(k) and similar retirement accounts by permitting workers to defer taxes on contributions; taxes are then levied only when retirees withdraw their funds. Yet the Treasury foregoes over $100B/year due to tax-deferred contributions to…

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Public Pension Design and Household Retirement Decisions: Cross-national Comparisons

This project aims to document household labor force participation responsiveness to social security program incentives in various countries. It will demonstrate anew the significance of these incentives using newly harmonized data on countries participating in the global Health and Retirement…

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Understanding Earnings, Labor Supply, and Retirement Decisions

We develop and estimate a model in which individuals make decisions on consumption, human capital investment, labor supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically assumed exogenous in the human…

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