The RAND Behavioral Finance Forum conference, held in partnership with AARP, was presented virtually in 2020. Leaders from academia, government, regulatory agencies, and industry were invited to share the latest research and exchange ideas on how to leverage behavioral principles to promote financial well-being, broadly conceived. The 2020 theme was "financial security over the lifespan."
Identifies key decisions prior to retirement that may be correlated with insecurity in later years and populations who may benefit most from targeted information.
Investigates the main barriers to the accumulation of retirement savings faced by minority groups in the United States.
This paper reports the first analysis of older Singaporeans' financial literacy using a unique new dataset, the Singapore Life Panel (SLP®).
This article represents the first U.S. study employing exclusively household-level longitudinal data spanning the Great Recession to estimate the response of household spending to negative wealth shocks induced by the sharp declines in house prices.
This paper sheds new light on the importance of home production in welfare analyses by focusing on the elasticity of substitution estimated over the retired population, thus holding constant non-work time, but also on the share of spending that is potentially substitutable.
Uses Health and Retirement Study survey data matched to Social Security administrative data to study how households integrate Social Security benefits into their general retirement income plans.
Investigates how households locate contributions across tax deferred savings accounts that are nominally held in one spouse's name and how these decisions may impact accumulated assets.
The results of this study provide unique information on individuals' responses to a Social Security reform that would implement a 30 percent cut in benefits.
Simulation of means testing benefit schemes showing beneficial effects on poverty and income inequality. Validated with data from a field experiment in Yucatan, Mexico, the simulations provide a good forecast of observed effects in the experiment.
Entrepreneurship among older adults is on the rise, especially in households with greater access to income from interest, dividends, and capital gains.
This article reviews a non-contributory pension program introduced in Mexico in 2007 that has since expanded greatly.
In 1997, Mexico transformed its pay-as-you-go social security system to a fully funded system with personal retirement accounts, including management fees. This article examines changes in retirement wealth resulting from this new system.
The simple one-good model of life-cycle consumption requires that consumption be continuous over retirement; yet prior research based on partial measures of consumption or on synthetic panels indicates that spending drops at retirement, a result that has been called the retirement-consumption puzzle.
