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• W1593313574 abstract "The data show large dispersion in households’ wealth holdings at retirement. In addition, the empirical correlation between household lifetime earnings and retirement wealth is much lower in the data than in many quantitative models. This paper quantifles and analyzes the implications of a life cycle model with intergenerational links (in the form of voluntary bequest motives and intergenerational transmission of ability) that also explicitly allows for deflned beneflt pensions, historydependent social security, and a government-provided minimum consumption ∞oor. The key flnding is that this model goes a long way toward matching the observed wealth difierences at retirement and their correlation with lifetime incomes." @default.
• W1593313574 created "2016-06-24" @default.
• W1593313574 creator A5011025613 @default.
• W1593313574 date "2012-01-01" @default.
• W1593313574 modified "2023-09-23" @default.
• W1593313574 title "Lifetime Earnings and Heterogeneity in Retirement Wealth: the Role of Bequests, Minimum Consumption, and Social Security ⁄" @default.
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• W1593313574 hasPublicationYear "2012" @default.
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