| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28396 |
| 来源ID | Working Paper 28396 |
| Is Automatic Enrollment Consistent with a Life Cycle Model? | |
| Jason Scott; John B. Shoven; Sita Slavov; John G. Watson | |
| 发表日期 | 2021-02-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We examine optimal retirement saving for young adults in a life cycle model. We find that for liquidity-constrained young adults who anticipate significant earnings growth, optimal retirement saving is zero. Specifically, we find that with a plausible wage profile for college-educated workers, retirement saving does not begin until the late 30s or early 40s, even with standard employer matching. In fact, inducing workers in their mid 20s to participate in a retirement plan requires employer match rates of more than 1000 percent. In contrast, workers facing a flat wage profile begin saving much earlier in life. We also find that participating may be optimal for younger workers facing steeper wage profiles if they anticipate switching jobs and cashing out after 1-2 years. Our results suggest that automatically enrolling workers, regardless of age or anticipated future earnings, in defined contribution plans is not consistent with optimizing behavior in a life cycle model. |
| 主题 | Microeconomics ; Households and Firms ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w28396 |
| 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/586070 |
| 推荐引用方式 GB/T 7714 | Jason Scott,John B. Shoven,Sita Slavov,et al. Is Automatic Enrollment Consistent with a Life Cycle Model?. 2021. |
| 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 | ||
| w28396.pdf（799KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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