|Title||Are Households Saving Adequately for Retirement? A Progress Report on Three Projects|
|Year of Publication||2001|
|Authors||Engen, EM, Gale, WG, Uccello, CE|
|Institution||CRR Conference Paper, Center for Retirement Research at Boston College|
|Keywords||Consumption and Savings|
This paper summarizes the current status of three research projects on the adequacy of households saving for retirement. The first examines how changes in the latter half of the 1990s, in particular the stock market boom, have affected the extent to which households are preparing adequately for saving. The second explores the implications of allowing for variable leisure and endogenous retirement in developing a simulation model that is used to generate benchmark values of adequate wealth accumulation. The third investigates how data on lifetime earnings can be used to improve estimates of how well households are actually preparing for retirement and to show biases that occur when using data on current earnings.
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