|
|
|
|
||||
|
||||
Life-Cycle Finance and the Design of Pension PlansZvi BodieBoston University - Department of Finance & Economics Jerome DetempleBoston University - Department of Finance & Economics; Center for Interuniversity Research and Analysis on Organization (CIRANO) December 2009 Annual Review of Financial Economics, Vol. 1, pp. 249-286, 2009 Abstract: This article reviews recent scientific literature on consumer financial decisions over the life cycle, outlining its implications for the design of pension plans. It begins with a review of advances in the theory of rational financial planning and wealth management. It then summarizes the recent empirical literature on the actual behavior of households regarding saving, investing, and insuring their consumption in old age. Finally, it briefly comments on the practical implications of the theory for the design of pension systems and outlines areas of future research. Accepted Paper Series Date posted: June 4, 2010Suggested CitationContact Information
|
|
||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo7 in 0.313 seconds
