All listings for this product
About this product
- DescriptionThis collection of essays, coauthored with other distinguished ecomists, offers new perspectives on saving, intergenerational ecomic ties, retirement planning, and the distribution of wealth. The book links life-cycle microecomic behavior to important macroecomic outcomes, including the roughly 50 percent postwar decline in America's rate of saving and its increasing wealth inequality. The book traces these outcomes to the government's five-decade-long policy of transferring, in the form of annuities, ever larger sums from young savers to old spenders. The book presents new theoretical and empirical analyses of altruism that rule out the possibility that private intergenerational transfers have offset those by the government.While rational life-cycle behavior can explain broad ecomic outcomes, the book also shows that a significant mirity of households fail to make coherent life-cycle saving and insurance decisions. These mistakes are compounded by reliance on conventional financial planning tools, which the book compares with Ecomic Security Planner (ESPlanner), a new life-cycle financial planning software program. The application of ESPlanner to U.S. data indicates that most Americans approaching retirement age are saving at much lower rates than they should be, given potential major cuts in Social Security benefits.
- Author BiographyLaurence J. Kotlikoff, one of the nation's leading experts on fiscal policy, national saving, and personal finance and a columnist for Bloomberg, is Professor of Economics at Boston University. His writings and views appear in Forbes, the Economist, the Financial Times, the Wall Street Journal, the New York Times, and other leading media outlets.
- Author(s)Laurence J. Kotlikoff
- PublisherMIT Press Ltd
- Date of Publication03/08/2001
- SubjectFinance & Accounting
- Place of PublicationCambridge, Mass.
- Country of PublicationUnited States
- ImprintMIT Press
- Content Note20 illus.
- Weight926 g
- Width152 mm
- Height229 mm
- Spine38 mm
- Interest AgeFrom 18
Best-selling in Textbooks
Save on Textbooks
- AU $79.69Trending at AU $96.35
- AU $72.90Trending at AU $74.37
- AU $35.43Trending at AU $40.71
- AU $74.90Trending at AU $79.35
- AU $18.96Trending at AU $24.44
- AU $30.00Trending at AU $49.03
- AU $16.98Trending at AU $18.30
This item doesn't belong on this page.
Thanks, we'll look into this.