Financial Risk, Retirement, Saving and Investment.
Gustman, Alan L.; Steinmeier, Thomas L.
2006-09
Abstract
This paper considers the prospects for adding choice of portfolio composition to a life cycle model of retirement and saving, while preserving the ability of the model to continue to explain the course of saving and retirement. If eventually successful, such a modification might be used to improve understanding of retirement and saving behavior both under the current Social Security system, and under variations involving personal accounts. In particular we consider the implications of separating parameters that now reflect both risk aversion and time preference.Publisher
Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104
Series/Report no.
WP 2006-130
Types
Working Paper
Metadata
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