| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26078 |
| 来源ID | Working Paper 26078 |
| Who is a Passive Saver Under Opt-In and Auto-Enrollment? | |
| Gopi Shah Goda; Matthew R. Levy; Colleen Flaherty Manchester; Aaron Sojourner; Joshua Tasoff | |
| 发表日期 | 2019-07-22 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Defaults have been shown to have a powerful effect on retirement saving behavior yet there is limited research on who is most affected by defaults and whether this varies based on features of the choice environment. Using administrative data on employer-sponsored retirement accounts linked to survey data, we estimate the relationship between retirement saving choices and individual characteristics – long-term discounting, present bias, financial literacy, and exponential-growth bias – under two distinct choice environments: an opt-in regime and an auto-enrollment regime. Consistent with our conceptual model, we find that the determinants of following the default and contribution behavior are regime-specific. Under the opt-in regime, financial literacy plays an important role in predicting total contributions, active saving choices, and maxing out contributions in the tax-preferred account. In contrast, under the auto-enrollment regime, present bias is the most significant behavioral predictor of contribution behavior. A causal interpretation of the estimates suggests that auto-enrollment increases saving primarily among those with low financial literacy. |
| 主题 | Labor Economics ; Labor Compensation |
| URL | https://www.nber.org/papers/w26078 |
| 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/583752 |
| 推荐引用方式 GB/T 7714 | Gopi Shah Goda,Matthew R. Levy,Colleen Flaherty Manchester,et al. Who is a Passive Saver Under Opt-In and Auto-Enrollment?. 2019. |
| 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 | ||
| w26078.pdf（657KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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