Showing results 1 - 5 of 5
| John Beshears | David Laibson
The effect of automatic enrolment on debt. John Beshears, David Laibson, September 17, 2019, Paper, "Automatic enrolment in defined contribution pension plans might be the most common policy application of behavioural economics. But does automatic enrolment increase pension savings at the expense of increased household debt? This column examines a natural experiment in which the US Army began automatically enrolling its civilian employees in its…
| John Beshears | David Laibson | Brigitte C. Madrian
Potential vs. realized savings under automatic enrollment. John Beshears, David Laibson, Brigitte Madrian, July 2018, Paper, "Previous research has documented the powerful impact that automatic enrollment has on retirement savings outcomes. When a savings plan’s default—the option that is implemented on behalf of any employees that do not actively elect an alternative option—is changed from not participating in the plan to contributing a…
| John Beshears | David Laibson | Brigitte C. Madrian
Borrowing to Save? The Impact of Automatic Enrollment on Debt. John Beshears, David Laibson, Brigitte Madrian, December 6, 2017, Paper, "How much of the retirement savings induced by automatic enrollment is offset by increased borrowing outside the retirement savings plan? We study a natural experiment created when the U.S. Army began automatically enrolling its newly hired civilian employees into the Thrift Savings Plan (TSP) at a default…
| John Beshears | David Laibson
Building Emergency Savings Through Employer-Sponsored Rainy Day Savings Accounts. John Beshears, David Laibson, October 2017, Paper, "Many Americans live paycheck to paycheck, carry revolving credit balances, and have little liquidity to absorb financial shocks (Angeletos et al. 2001; Kaplan and Violante 2014). One consequence of this financial vulnerability is that many individuals use a portion of their retirement savings during their working…
| David Laibson
Why Harvard’s Laibson and MIT’s Schoar back Labor Department’s ‘fiduciary rule’ for retirement savings. David Laibson, September 30, 2015, Video. "The Obama administration has stirred controversy – and stiff industry criticism – for a pending Labor Department rule that would toughen rules governing retirement-finance advisers, requiring nearly all of them to put clients’ best interest first (“the fiduciary standard.”) Currently, stock brokers,…