Workshop “Household Finance and Retirement Savings”

19-20 October 2017, Collegio Carlo Alberto, Turin

The workshop, organized by CeRP-Collegio Carlo Alberto, CINTIA-Centro Interuniversitario Nestpar Italy and the Department of Economic, Social, Mathematical and Statistical Sciences of the University of Turin, fostered interaction between senior and junior researchers working in the area of household finance and retirement savings. The workshop included state-of-the-art research on household risk management over the life cycle.

ORGANIZING COMMITTEE: Elsa Fornero and Carolina Fugazza

PROGRAM COMMITTEE: Francisco Gomes, Michael Haliassos, Alain Jousten, Christian Julliard, Giovanna Nicodano

Papers and presentations

19 October

Session 1: Lifetime Income and Spending
“How much consumption insurance in the US?” ǀ Dmytro Hryshko (University of Alberta) PAPER HRYSHKO
Discussant: Claudio Campanale (University of Turin)
“Decomposing lifetime income inequality” ǀ Daniel Kemptner (Deutsches Institut für Wirtschaftsforschung, Berlin) Kemptner Presentation
Discussant: Francesco Passarelli (University of Turin)
“Subjective inheritance expectations and economic outcomes” ǀ Stefania Basiglio (University of Turin) Paper Basiglio
Discussant: Ainhoa Aparicio Fenoll (Collegio Carlo Alberto)

Keynote speech “Target Date Funds Revisited” ǀ Alex Michaelides (Imperial College London) Michaelides presentation

Session 2: Financing Retirement Needs 
“Private wealth and pensions across European countries” ǀ Frédérique Savignac (Banque de France) Savignac presentation
Discussant: Michele Belloni (University of Venice and CeRP)
“A cross-country study of saving and spending in retirement” ǀ Johan Bonekamp (Tilburg University) Paper Bonekamp
Discussant: Henriette Prast (Tilburg University)
“Households’ consumption spending and home production responses to retirement: Do retirees substitute consumption spending?” ǀ Jim Been (Leiden University) Paper Been
Discussant: Sarah Grace See (University of York)

Session of the project “Care and Income Redistributive Cycles in the Lives of Europeans”

“How long is too long? Long-term effects of maternity-related job interruptions on mothers’ income in 10 European countries” ǀ Matteo Luppi (Collegio Carlo Alberto)
Discussant: Manos Matsaganis (Politecnico di Milano)
“Size and distributional pattern of pension-related tax expenditures in European countries” ǀ Flavia Coda Moscarola, Francesco Figari (University of Insubria and CeRP)
Discussant: Alain Jousten (Université de Liège)

20 October
Session 3: Longevity and Mortality Risk 
“Longevity Risk: to Bear or to Insure” ǀ Marie Brière (Amundi, Paris) Paper Brière
Discussant: Elena Vigna (University of Turin)
“Information Effects in Longevity-Linked vs Purely Financial Portfolios” ǀ Antonella Tolomeo (University of Turin) Paper Tolomeo
Discussant: Luca Regis (University of Siena)
“Closing Down the Shop: Optimal Health and Wealth Dynamics near the End of Life” ǀ Pascal St-Amour (University of Lausanne) PAPER ST AMOUR
Discussant: Kim Peijnenburg (HEC, Paris)

Session 4: Risk Sharing and Portfolio Choice 
“Household Risk Sharing Channels” ǀ Simone Tedeschi (University of Rome – La Sapienza) Paper Tedeschi
Discussant: Marina di Giacomo (University of Turin)
“Household Portfolio Allocation in the EU” ǀ Andrew Davis (Acadia University) Paper Davis
Discussant: Federica Teppa (De Nederlandsche Bank)
“Skewness expectations and portfolio choice” ǀ Matthias Wibral (Maastricht University) Wibral paper
Discussant: Anna Maffioletti (University of Turin)

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