The effects of pension information on individuals' economic outcomes: A survey

This paper provides an overview of a wide array of research investigating the effects of pension information on different individuals’ economic outcomes. While many studies show that information provision increases knowledge, the evidence is mixed regarding its effects on behavior. Nevertheless, we draw some conclusions about the impact of pension information on three major economic outcomes, namely, retirement planning, choices pertaining individuals’ labor supply, and savings decisions. We also highlight that the lack of knowledge prevalently hits the most vulnerable individuals in the society, such as women. As a consequence, not providing sufficient information could contribute to widening the gender gap in pensions

Saving with a social impact: Evidence from trento province

In this paper, we investigate the determinants of investing, focusing on its potential social impact. In particular, we consider whether there is room for expanding impact investing through social savings. The increasing trend in the demand for social finance makes the topic of unique interest, particularly when data on preferences for social saving can be collected at the individual level. We investigate the determinants and drivers of saving with a social goal running a survey conducted in Trentino-Alto Adige in which respondents are asked to allocate their portfolio to possible social investments. In line with the evidence collected in the Netherlands by Riedl and Smeets (2014), our results show a strong preference for a lower return, with the condition that the return is invested in a community programme, and little interest in the monetary return of the investment. Respondents are either inclined to put their entire portfolio into saving for the community or not to invest at all. This result suggests that there is a consistent demand, only partially accommodated by the supply, for financial products investing in the community, rather than for a monetary return

Profiling Circulating and Urinary Bile Acids in Patients with Biliary Obstruction before and after Biliary Stenting

Bile acids are considered as extremely toxic at the high concentrations reached during bile duct obstruction, but each acid displays variable cytotoxic properties. This study investigates how biliary obstruction and restoration of bile flow interferes with urinary and circulating levels of 17 common bile acids. Bile acids (conjugated and unconjugated) were quantified by liquid chromatography coupled with tandem mass spectrometry in serum and urine samples from 17 patients (8 men and 9 women) with biliary obstruction, before and after biliary stenting. Results were compared with serum concentrations measured in 40 age- and sex-paired control donors (20 men and 20 women). The total circulating bile acid concentration increases from 2.7 µM in control donors to 156.9 µM in untreated patients with biliary stenosis. Serum taurocholic and glycocholic acids exhibit 304- and 241-fold accumulations in patients with biliary obstruction compared to controls. The enrichment in chenodeoxycholic acid species reached a maximum of only 39-fold, while all secondary and 6α-hydroxylated species –except taurolithocholic acids – were either unchanged or significantly reduced. Stenting was efficient in restoring an almost normal circulating profile and in reducing urinary bile acids

‘Take the Money and Run’: Dutch Evidence on Inheritance and Transfer Receiving and Divorce

This paper aims to investigate whether a wealth endowment, such as an inheritance or a gift, can increase the chances of getting divorced, using Dutch panel data for the period from 2002 to 2016. According to the literature, different factors may lead to the breakdown of a marriage; however, the role played by inherited wealth has never been explored so far. Starting from the idea that the receipt of an inheritance might have an impact on various aspects of an individual’s life, estimations of a Cox proportional hazard ratios model are performed and tests are carried out to establish which variables, with particular attention being given to inherited wealth, act as drivers in increasing the chances of withdrawing from a marriage. The findings suggest that when the wealth endowment has been received by the wife, this increases the chances of the couple separating. This signals that receiving an inheritance/gift changes the bargaining power between the couple: for the husband, it does not represent an incentive to divorce, while the results suggest that the wife might perceive a change in the bargaining power, increasing the likelihood of marital disruption

Women-led Firms and Credit Access. A Gendered Story?

This work focuses on credit access and demand in Italian firms using the RIL dataset, a sample representative of Italian firms, for the year 2015. We investigate whether the gender of the firm’s decision-maker plays a role in requesting and obtaining a loan. Our results suggest that women are significantly less likely to ask for credit, while no significant differences in credit approval are found between the two genders. Moreover, the gender gap disappears for more educated women, as well as for firms in the north of the country