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Heterogeneity in consumers' income and pension expectations

Bissonnette,L.
; 
van Soest,Arthur
Abstract
The expectations of economic agents play a crucial role in almost any inter-temporal economic model. Using 2009–12 panel data for a representative sample of the Dutch population, we analyze consumers’ income and pension expectations. We focus on heterogeneity across socioeconomic groups and associations with how consumers perceive the economic and financial crisis. We find that pension expectations become more pessimistic over the 4 years, in line with pension reforms and the crisis. We find substantial differences across groups that are generally plausible and in line with financial theory.
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Date
2015
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Tilburg University Research Output Collection
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Keywords
subjective probabilities, retirement, replacement rates, D84 - Expectations ; Speculations, H55 - Social Security and Public Pensions, J26 - Retirement ; Retirement Policies, SDG 1 - No Poverty, SDG 10 - Reduced Inequalities
Citation
Bissonnette, L & van Soest, A 2015, 'Heterogeneity in consumers' income and pension expectations', Journal of Pension Economics & Finance, vol. 14, no. 4, pp. 439-465. https://doi.org/10.1017/S1474747215000207
URI
https://hdl.handle.net/20.500.14602/64585
License
info:eu-repo/semantics/closedAccess
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