Liquidity in Retirement Savings Systems: An International Comparison

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Beshears, John Leonard; Choi, James J.; Hurwitz, Joshua Bayard; Laibson, David I.; Madrian, Brigitte;

What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-r... View more
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