search query: @indexterm EMPLOYMENT TERMINATION / total: 18
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| Author: | Duflo, E. Saez, E. |
| Title: | Participation and investment decisions in a retirement plan: the influence of colleagues' choices |
| Journal: | Journal of Public Economics
2002 : JUL, VOL. 85:1, p. 121-148 |
| Index terms: | Employment termination Retirement Universities Employees USA |
| Language: | eng |
| Abstract: | The paper investigates whether peer effects play an important role in retirement savings decisions. The authors use individual data from employees of a large university to study whether individual decisions to enroll in a Tax Deferred Account plan sponsored by the university, and the choice of the mutual fund vendor for people who choose to enroll, are affected by the decisions of other employees in the same department. To overcome the identification problems, the authors divide the departments into sub-groups and instrument the average participation of each peer group by the salary or tenure structure in this group. The results suggest that peer effects may be an important determinant of savings decisions. |
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