Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/100177
Authors: 
van de Ven, J.
Year of Publication: 
2011
Series/Report no.: 
Working Paper, The Economic and Social Research Institute (ESRI), Dublin 399
Abstract: 
Estimates for a structural model of savings and labour supply calculated on UK field data support the hypothesis of quasi-hyperbolic discounting. The estimated model indicates that a DC pension encourages increased saving and labour supply prior to pension age, and substantially reduced labour supply thereafter. These results are exaggerated when preferences are myopic. Welfare responses at the beginning of life to the DC pension improve with the extent of myopia, and with the return to the pension asset. Myopia represents an important factor in determining whether the DC pension results in a positive welfare response at plausible parameter values.
Subjects: 
myopia
pension
saving
retirement
JEL: 
D12
D81
H31
J26
Document Type: 
Working Paper

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