This paper develops and estimates a dynamic model of individuals’ couples’ labor supply, savings, retirement decisions to analyze how the design Chile’s privatized pension system reform undertaken in 2008 affect gender gaps old-age poverty. Chile has one longest-running private retirements accounts systems world, which served as for many countries. The using pre-reform data compares model’s sho...

private retirement savings programs reThis study examines the tax-favored results in the largest single category of tax tirement savings behavior of non-self-emexpenditures in the budget, both before ployed households. Our estimates suggest and after TRA 86. Previously, the U.S. that perceptions of the household's marTreasury (1986) had estimated 59.2 bilginal tax rate are of limited importance...

T he amount of risk sharing among households, regions, or countries is crucial in determining aggregate welfare. For example, pooling resources at the national level can help regions better deal with natural disasters like floods. Similarly, pooling resources with an insurance company can help individuals deal with shocks like a house fire or a car accident. Capital accumulation and economic gr...

he recent downturn in the economy has had far reaching effects on the lives of just about every American. This is particularly true in North Carolina as our state has been cited as having the third highest unemployment rate in the nation. Businesses have been forced to implement employee layoffs and other cost savings measures in order to survive. The increasing unemployment rate, along with a ...

We present a locational model of banking with two types of private banks, honest and opportunistic, and a state bank that is assumed to be less efficient. Opportunistic banks choose whether to honor their contracts with depositors depending on the probability of contract enforcement. We derive three types of equilibria, which depend on institutional quality: a “low” equilibrium in which private...

• 2007 Minority Retirement Confidence Survey—African-American and Hispanic workers are at least as likely as American workers overall to feel confident about their retirement security even though their savings and preparations lag behind, according to findings of the 2007 Minority Retirement Confidence Survey (MRCS). While some differences in preparation can be attributed to differences in inco...

In this paper, we study the relationship between prevention and savings and analyze their socially optimal levels. In a first part, we analyze optimal decisions of primary prevention and savings when individuals face a health risk involving expenses that can not be covered by any insurance (private or public). We take into account the possibility for the individuals to underestimate or overesti...

With the advent of cloud computing, data owners are motivated to outsource their complex data management systems from local sites to the commercial public cloud for great flexibility and economic savings. Every owner data is encrypted before stored in the cloud server. Considering the large number of data users and documents in the cloud, it is necessary to allow multiple keywords in the search...