| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22609 |
| 来源ID | Working Paper 22609 |
| The Welfare Cost of Retirement Uncertainty | |
| Frank N. Caliendo; Maria Casanova; Aspen Gorry; Sita Slavov | |
| 发表日期 | 2016-09-01 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Uncertainty about the timing of retirement is a major financial risk with implications for decision making and welfare over the life cycle. We estimate that the standard deviation of the difference between retirement expectations and actual retirement dates ranges from 4.28 to 6.92 years. We develop a quantitative model to assess the impact of this risk. Individuals would give up 2.6%-5.7% of total lifetime consumption to fully insure this risk and 1.9%-4.0% of lifetime consumption simply to know their actual retirement date at age 23. While social insurance programs could be designed to hedge this risk, current programs in the U.S. (OASI and SSDI) provide very little timing insurance. |
| 主题 | Microeconomics ; Mathematical Tools ; Macroeconomics ; Consumption and Investment ; Public Economics ; National Fiscal Issues ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w22609 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580282 |
| 推荐引用方式 GB/T 7714 | Frank N. Caliendo,Maria Casanova,Aspen Gorry,et al. The Welfare Cost of Retirement Uncertainty. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22609.pdf（425KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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