October 2018

22Oct

The Pivotal Role of Fairness: Which Consumers Like Annuities?

By Suzanne B. Shu (University of California, Los Angeles - Anderson School of Management), Robert Zeithammer (University of California, Los Angeles (UCLA) - Anderson School of Management), John W. Payne (Duke University - Marketing) Life annuities can be a valuable component of the decumulation stage of wealth during retirement. While economists argue that most retirees should annuitize, actual demand in the marketplace is low. We analyze data from two studies to determine how measurable individual differences among consumers affect their...

October 22, 2018
Articles, Pension design, System Sustainability, , ,
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12Oct

The Experts’ War on Poverty: Social Research and the Welfare Agenda in Postwar America (American Institutions and Society)

By Romain D. Huret In the critically acclaimed La Fin de la Pauverté, Romain D. Huret identifies a network of experts who were dedicated to the post-World War II battle against poverty in the United States. John Angell’s translation of Huret’s work brings to light for an English-speaking audience this critical set of intellectuals working in federal government, academic institutions, and think tanks. Their efforts to create a policy bureaucracy to support federal socio-economic action spanned from the last days...

October 12, 2018
Books, Corporate Governance, , ,
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12Oct

Retirement Savings Inequality: Different Effects of Earnings Shocks, Portfolio Selections, and Employer Contributions by Worker Earnings Level

By Joelle Saad-Lessler (The New School for Social Research), Teresa Ghilarducci (Schwartz Center for Economic Policy Analysis (SCEPA); The New School for Social Research), Gayle Reznik (U.S. Social Security Administration) Changes in accumulated retirement savings, particularly in employer-sponsored defined contribution (DC) plan balances, differ by worker’s earnings levels. Earnings shocks, portfolio diversification, and employer contributions to worker’s DC plans affect retirement savings for lower earners more than for higher earners. The authors match Survey of Income and Program Participation data...

October 12, 2018
Articles, Labor Market, Savings, , , ,
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05Oct

The Experts’ War on Poverty: Social Research and the Welfare Agenda in Postwar America (American Institutions and Society)

By Romain D. Huret,‎ John Angell In the critically acclaimed La Fin de la Pauverté, Romain D. Huret identifies a network of experts who were dedicated to the post-World War II battle against poverty in the United States. John Angell’s translation of Huret’s work brings to light for an English-speaking audience this critical set of intellectuals working in federal government, academic institutions, and think tanks. Their efforts to create a policy bureaucracy to support federal socio-economic action spanned from the...

October 5, 2018
Books, Pension design, System Sustainability, , ,
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05Oct

Life Quality and Health Costs in Late Retirement

By Yuanshan Cheng (Winthrop University), Philip Gibson (Winthrop University), Tao Guo (William Paterson University) Individuals are living longer due to the advancement of medical technology and nutrition quality. Are the elderly enjoying retirement in those extended years with good quality of life, or, are they simply alive? Using data from the Health and Retirement Study (HRS) and the Consumption and Activities Mail Survey (CAMS), this study contributes to the literature by presenting empirical evidence on how individuals spend time in...

October 5, 2018
Articles, Pension design, Savings, Slider-Left,
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September 2018

08Sep

Still Attached? Are Social Safety Nets Working? Labor Force Participation in European Regions

By Benjamin Hilgenstock (Institute of International Finance) & Zsoka Koczan (International Monetary Fund (IMF)) The paper examines the evolution and drivers of labor force participation in European regions, focusing on the effects of trade and technology. As in the United States, rural regions within European countries saw more pronounced declines (or smaller increases) in participation than urban regions. Unlike in the United States, however, trade and technology, captured here using novel measures of initial exposures to routinization and offshoring, did...

September 8, 2018
Aging, Articles, Labor Market, Slider-Left, ,
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August 2018

25Aug

Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society

By Deborah Thorne (University of Idaho), Pamela Foohey (Indiana University Maurer School of Law), Robert M. Lawless (University of Illinois College of Law) & Katherine M. Porter (University of California - Irvine School of Law) The social safety net for older Americans has been shrinking for the past couple decades. The risks associated with aging, reduced income, and increased healthcare costs, have been off-loaded onto older individuals. At the same time, older Americans are increasingly likely to file consumer bankruptcy,...

August 25, 2018
Aging, Articles, , , , ,
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18Aug

The Relationship Between Financial Planner Use and Holding a Retirement Saving Goal: A Propensity Score Matching Analysis

By Kyoung Tae Kim (University of Alabama), Tae-Young Pak (University of Alabama), Su Hyun Shin (University of Alabama) & Sherman D. Hanna (Ohio State University (OSU)) It has been well established in the literature that financial advice leads to informed decision making and improved financial outcomes. However, there is limited evidence regarding the link between financial planner use and attitudes towards retirement saving. As financial planners provide comprehensive advice for the long-term benefits of clients, their clients may become more...

August 18, 2018
Aging, Articles, Labor Market, Pension design, Savings, ,
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18Aug

Corruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation

By Professor Carol Alexander Identify and stop potential issues before they become finable offences Corruption and Fraud in Financial Markets offers financial industry professionals with a comprehensive study on malpractice, misconduct and manipulation. Chapters cover detection, prevention and regulation of corruption and fraud within different financial markets. Written by experts at the forefront of finance and risk management, this book details the many practices that bring potentially devastating consequences, including insider trading, price manipulation, bribery, false disclosure, volume manipulation, spoofing, options...

August 18, 2018
Books, Investing, Regulation, Supervision,
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18Aug

Financial Fraud among Older Americans: Evidence and Implications

By Marguerite DeLiema, Martha Deevy, Annamaria Lusardi, Olivia S. Mitchell The consequences of poor financial capability at older ages are serious and include making mistakes with credit, spending retirement assets too quickly, and being defrauded by financial predators. Because older persons are at or past the peak of their wealth accumulation, they are often the targets of fraud. Our project analyzes a module we developed and fielded in the 2016 Health and Retirement Study (HRS). Using this dataset, we evaluate...

August 18, 2018
Aging, Articles, Labor Market, Savings, Slider-Left, ,
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