Pension Issues When Households Are Myopic or Time Inconsistent | Munich Center for the Economics of Aging - MEA


04.07.2016 - 31.12.2017 / Macroeconomic Implications of Demographic Change

Pension Issues When Households Are Myopic or Time Inconsistent

Pension economics has traditionally guided pension policy with the help of formal models based on individuals who think in a life cycle context with perfect foresight, full information and in a time-consistent manner. This paper sheds light on selected aspects of pension economics when these assumptions do not hold. We focus on three aspects which are particularly relevant for the quickly aging Asian economies: the volume of savings for old-age provisions, international diversification of retirement savings, and global spillover effects of pension reforms.

The results of this project have been presented at a conference in Kitakyushu, Japan. The resulting paper has been revised and resubmitted to the Review of Development Economics.


Dr. Duarte Nuno Semedo Leite


Börsch-Supan, Axel; Härtl, Klaus; Semedo Leite, Duarte Nuno (2018): "Who cares about the day after tomorrow? Pension issues when households are myopic or time inconsistent". In: Review of Development Economics, 22, S. 953 - 989.