Heterogeneity in consumers' income and pension expectations

L. Bissonnette, Arthur van Soest

Research output: Contribution to journalArticleScientificpeer-review

2 Citations (Scopus)

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.
Original languageEnglish
Pages (from-to)439-465
JournalJournal of Pension Economics and Finance
Volume14
Issue number4
DOIs
Publication statusPublished - 2015

Keywords

  • subjective probabilities
  • retirement
  • replacement rates

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