Time inconsistency and retirement planning

Frank Caliendo and T. Scott Findley ()

Economics Letters, 2013, vol. 121, issue 1, 30-34

Abstract: We quantify the welfare gains from better retirement planning using a model in which retirement planning is time inconsistent. A modest increase in a household’s planning horizon by just a few years generates large aggregate and individual welfare gains.

Keywords: Financial literacy; Planning; Time inconsistency (search for similar items in EconPapers)
JEL-codes: C61 D03 D91 H55 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:121:y:2013:i:1:p:30-34

DOI: 10.1016/j.econlet.2013.06.041

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