The choice between an annuity and a lump sum: Results from Swiss pension funds (2007)
This paper uses unique micro data from Swiss employer-based pension plans to study the annuitization decision at retirement. The administrative nature of our data, though limited with respect to...
Saving and Habit Formation: Evidence from Dutch Panel Data (2002)
Alessie, R.J.M., Teppa, Federica
This paper focuses on the role of habit formation in individual preferencesover consumption and saving. We closely relate to Alessie and Lusardi's(1997) model as we estimate a model which is based on...
Should You Take a Lump-Sum or Annuitize? Results from Swiss Pension Funds
Bütler, Monika, Teppa, Federica
We use a unique dataset on individual retirement decisions in Swiss pension funds to analyze the choice between an annuity and a lump sum at retirement. Our analysis suggests the existence of an...
An Empirical Assessment of the Italian Severance Payment
Carolina Fugazza, Federica Teppa
The Italian TFR ("Trattamento di fine Rapporto") is a statutory payment made by firms to staff on separation. Recent reforms of the national pension system are based on voluntary transfers of the TFR...
What Triggers Early Retirement. Results from Swiss Pension Funds
Monika Bütler, Olivia Huguenin, Federica Teppa
Early retirement is predominantly considered as the result of incentives set by social security and the tax system. But people seem to retire early even in the absence of such distortions as the...
Should You Take a Lump-Sum or Annuitize? Results from Swiss Pension Funds
We use a unique dataset on individual retirement decisions in Swiss pension funds to analyze the choice between an annuity and a lump sum at retirement. Our analysis suggests the existence of an...
Why Forcing People to Save for Retirement may Backfire
Monika Bütler, Olivia Huguenin, Federica Teppa
If individuals are unable or unwilling to borrow, a higher than desired second pillar pension capital may induce people to retire earlier than they would have in the absence of such a scheme....
What Triggers Early Retirement? Results from Swiss Pension Funds
Monika Bütler, Olivia Huguenin, Federica Teppa
Early retirement is predominantly considered as the result of incentives set by social security and the tax system. But people seem to retire early even in the absence of such distortions as the...
Should you Take a Lump-Sum or Annuitize? Results from Swiss Pension Funds
We use a unique dataset on individual retirement decisions in Swiss pension funds to analyze the choice between an annuity and a lump sum at retirement. Our analysis suggests the existence of an...
Saving and Habit Formation: Evidence from Dutch Panel Data
This paper focuses on the role of habit formation in individual preferences over consumption and saving. We closely relate to Alessie and Lusardi's (1997) model as we estimate a model which is based...
Hypothetical Intertemporal Consumption Choices
The paper extends and replicates part of the analysis by Barsky et al. (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal substitution elasticities...
What Triggers Early Retirement ? Results from Swiss Pension Funds
Monika BÜTLER, Olivia HUGUENIN, Federica TEPPA
Early retirement is predominantly considered as the result of incentives set by social security and the tax system. But people seem to retire early even in the absence of such distortions as the...
Why Forcing People to Save Retirement May Backfire
Monika Bütler, Olivia Huguenin, Federica Teppa
Early retirement is predominantly considered to be the result of incentives set by social security and the tax system. But the Swiss example demonstrates that the incidence of early retirement has...
Choice or No Choice: What explains the Attractiveness of Default Options?
Maarten Van Rooij, Federica Teppa
The default option in individual decision making has proved to be a major attractor in a large number of situations, but we still have little information on the reasons why decision makers so often...
Hypothetical Intertemporal Consumption Choices
The paper extends and replicates part of the analysis by Barsky, Juster, Kimball, and Shapiro (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal...
Why Forcing People to Save for Retirement May Backfire
Monika Bütler, Olivia Huguenin, Federica Teppa
Early retirement is predominantly considered to be the result of incentives set by social security and the tax system. But the Swiss example demonstrates that the incidence of early retirement has...
What Triggers Early Retirement? Results from Swiss Pension Funds
Bütler, Monika, Huguenin, Olivia, Teppa, Federica
Early retirement is predominantly considered as the result of incentives set by social security and the tax system. But people seem to retire early even in the absence of such distortions, as the...
Subjective Measures of Risk Aversion and Portfolio Choice
The paper investigates risk attitudes among different types of individuals. The authors use several different measures of risk attitudes, including questions on choices between uncertain income...
Can subjective survival expectations explain retirement behaviour?
Owen O'Donnell, Federica Teppa, Eddy Van Doorslaer
Theory predicts a number of mechanisms through which survival expectations influence retirement decisions: a wealth effect of a longer lifespan; an uncertainty effect through the return on savings; a...
Subjective Measures of Risk Aversion, Fixed Costs, and Portfolio Choice
The paper investigates risk attitudes among different types of individuals. We use several different measures of risk attitudes, including questions on choices between uncertain income streams...