The Financial Crisis and Consumers' Income and Pension Expectations

Luc Bissonnette and Arthur van Soest ()

Cahiers de recherche from Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques

Abstract: The expectations of economic agents play a crucial role in almost any inter-temporal economic model. A period of economic crisis may make consumer expectations more pes- simistic and affect their saving or retirement plans and decisions. Using 2009-2012 panel data for a representative sample of the Dutch population, we analyze consumers’ per- ception of the crisis and its expected impact on the household. Second, we analyze the deviations between short run income expectations and realizations, and how they are shaped by how people perceive the crisis. Finally, we study how crisis perceptions affect retirement age and income expectation.

Keywords: Subjective probabilities; retirement; replacement rates (search for similar items in EconPapers)
JEL-codes: D84 H55 J26 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-age and nep-eur
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Citations: View citations in EconPapers (1)

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