We add health and longevity to a standard model of life cycle saving and show that, under plausible assumptions, increases in longevity lead to higher savings rates at every age, even when retirement
We develop and test a formal model of leader political life cycle effects within a selectorate framework. The model leads to novel hypotheses about the provision of public goods, private goods, and fr
This paper argues that precautionary savings against uncertain income comprise a large fraction of aggregate savings. A closed-form approximation for life cycle consumption subject to uncertain intere
We develop and test a formal model of leader political life cycle effects within a selectorate framework. The model leads to novel hypotheses about the provision of public goods, private goods, and fr
US middle-class households invested 10% more of their investable wealth in the stock market in the past two decades than they did in the 1990s, and this share is now hump-shaped in age, declining afte