Savings for retirement under liquidity constraints: A note
Lorenzo Corsini () and
Luca Spataro ()
Economics Letters, 2013, vol. 118, issue 2, 258-261
Pension systems often entail some compulsory saving over which individuals have some degree of choice in terms of the pension plan in which to invest. We analyse whether the choice between alternative plans is affected by the presence of liquidity constraints during working life and we prove that the analytical conditions that determine the choice between different plans are the same in the constrained and unconstrained case.
Keywords: Choice on pension plans; Optimal portfolio composition; Incomplete markets; Liquidity constraints (search for similar items in EconPapers)
JEL-codes: D52 D91 G11 G23 H55 (search for similar items in EconPapers)
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Working Paper: Savings for retirement under liquidity constraints: a note (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:118:y:2013:i:2:p:258-261
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