Tag: aging
The financial impact on older people who find themselves out of work goes far beyond the missed paychecks: it upsets well-laid plans for retirement. Stan Bednarczyk, an engineer who was laid off in 2009 by a Michigan automobile supplier, has numerous concerns. He can no longer contribute to the retirement account sponsored by his former employer…
Abstract German reunification was a large, unexpected shock for East Germans, with different economic consequences for different birth cohorts. Exploiting German reunification as a natural experiment, I analyze the validity of the life-cycle consumption model. In the empirical part, I derive three stylized features concerning the saving behavior of East vs. West Germans in t…
