@article {5591,
	title = {Effects of Stock Market Fluctuations on the Adequacy of Retirement Wealth Accumulation},
	number = {2004-16},
	year = {2004},
	institution = {Center for Retirement Research at Boston College},
	address = {Boston},
	abstract = {This paper examines the relation between fluctuations in the aggregate value of equities and the adequacy of households  saving for retirement. We find that many and perhaps most households appear to be saving adequate amounts for retirement, but almost no link between stock values and the adequacy of retirement saving. Historical variation in equity values and ownership correlates poorly with historical variation in the adequacy of saving. Even a simulated 40 percent decline in stocks has little effect on the adequacy of saving. The results occur because equities are concentrated among households with significant amounts of other wealth.},
	keywords = {Net Worth and Assets},
	url = {https://crr.bc.edu/working-papers/effects-of-stock-market-fluctuations-on-the-adequacy-of-retirement-wealth-accumulation/},
	author = {Engen, Eric M. and William G. Gale and Cori E. Uccello}
}
@article {6632,
	title = {The Adequacy of Household Saving},
	journal = {Brookings Papers on Economic Activity},
	volume = {2},
	year = {1999},
	note = {RDA 1998-006},
	pages = {65-165},
	publisher = {2},
	abstract = {This paper shows that, in a life-cycle simulation model in which people save for retirement and due to uncertain future earnings and lifespan, there will be a distribution of optimal wealth-earnings ratios, even among observationally equivalent households. Therefore even low levels of wealth can be consistent with optimization. Using HRS and SCF data, we find that more than half of married households where the husband works full-time have wealth -earnings ratios exceeding the optimal median simulated ratio for households with the same characteristics. The model understates accumulation among households with high wealth-earnings ratios. Both results suggest accumulation is adequate for most such households. However, there is evidence of undersaving at the 5th and the 25th percentiles. We also reconcile most previous studies that have been interpreted as showing inadequate household saving with our results.},
	keywords = {Adult children, Consumption and Savings, Event History/Life Cycle, Income, Net Worth and Assets, Retirement Planning and Satisfaction},
	url = {https://www.brookings.edu/wp-content/uploads/1999/06/1999b_bpea_engen.pdf},
	author = {Engen, Eric M. and William G. Gale and Cori E. Uccello}
}
