Todd E. and Elizabeth H. Warnock Chair in Economics
University of Wisconsin-Madison
Areas of Research Interest: Interaction Between Technological Progress and Technological Change, Human Capital and Cross-Country Income Differences, and The Adequacy of Retirement Savings
In this paper, John Karl Scholz and Ananth Seshadri focus on a behavioral norm that leads to financial security, specifically, saving enough during working years to maintain pre-retirement living standards during retirement. We use an augmented lifecycle model to predict optimal wealth accumulation levels for a variety of populations.