{"id":"https://openalex.org/W4392092935","doi":"https://doi.org/10.1016/j.jpubeco.2024.105083","title":"The impact of withdrawal penalties on retirement savings","display_name":"The impact of withdrawal penalties on retirement savings","publication_year":2024,"publication_date":"2024-02-23","ids":{"openalex":"https://openalex.org/W4392092935","doi":"https://doi.org/10.1016/j.jpubeco.2024.105083"},"language":"en","primary_location":{"id":"doi:10.1016/j.jpubeco.2024.105083","doi":"https://doi.org/10.1016/j.jpubeco.2024.105083","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.jpubeco.2024.105083","pdf_url":null,"source":{"id":"https://openalex.org/S199447588","display_name":"Journal of Public Economics","issn_l":"0047-2727","issn":["0047-2727","1879-2316"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Public Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://doi.org/10.1016/j.jpubeco.2024.105083","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5036576068","display_name":"Ellen Stuart","orcid":"https://orcid.org/0000-0002-0929-9024","observed_orcids":["https://orcid.org/0000-0002-0929-9024"]},"institutions":[{"id":"https://openalex.org/I129604602","display_name":"The University of Sydney","ror":"https://ror.org/0384j8v12","country_code":"AU","type":"education","lineage":["https://openalex.org/I129604602"]}],"countries":["AU"],"is_corresponding":true,"raw_author_name":"Ellen Stuart","raw_affiliation_strings":["The University of Sydney, School of Economics, Sydney, Australia"],"raw_orcid":"https://orcid.org/0000-0002-0929-9024","affiliations":[{"raw_affiliation_string":"The University of Sydney, School of Economics, Sydney, Australia","institution_ids":["https://openalex.org/I129604602"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5054304671","display_name":"Victoria L. Bryant","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4405270570","display_name":"Internal Revenue Service","ror":"https://ror.org/00yahaz74","country_code":"US","type":"government","lineage":["https://openalex.org/I4405270570"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Victoria L. Bryant","raw_affiliation_strings":["Internal Revenue Service, Statistics of Income Division, Washington, D.C., USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Internal Revenue Service, Statistics of Income Division, Washington, D.C., USA","institution_ids":["https://openalex.org/I4405270570"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5036576068"],"corresponding_institution_ids":["https://openalex.org/I129604602"],"apc_list":{"value":3800,"currency":"USD","value_usd":3800},"apc_paid":{"value":3800,"currency":"USD","value_usd":3800},"fwci":6.9713,"has_fulltext":false,"cited_by_count":14,"citation_normalized_percentile":{"value":0.96199323,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"232","issue":null,"first_page":"105083","last_page":"105083"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13042","display_name":"Economic and Fiscal Studies","score":0.0017999999690800905,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11631","display_name":"Retirement, Disability, and Employment","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/3317","display_name":"Demography"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/retirement-savings","display_name":"retirement savings","score":0.8640000224113464},{"id":"https://openalex.org/keywords/traditional-ira","display_name":"traditional IRA","score":0.8180000185966492},{"id":"https://openalex.org/keywords/early-withdrawal-penalties","display_name":"early withdrawal penalties","score":0.6650000214576721},{"id":"https://openalex.org/keywords/required-minimum-distributions","display_name":"required minimum distributions","score":0.8149999976158142},{"id":"https://openalex.org/keywords/bunching","display_name":"bunching","score":0.7450000047683716},{"id":"https://openalex.org/keywords/life-cycle-model","display_name":"life-cycle model","score":0.699999988079071},{"id":"https://openalex.org/keywords/welfare-effects","display_name":"welfare effects","score":0.7129999995231628},{"id":"https://openalex.org/keywords/tax-remittance","display_name":"tax remittance","score":0.8050000071525574},{"id":"https://openalex.org/keywords/penalty-rates","display_name":"penalty rates","score":0.460999995470047},{"id":"https://openalex.org/keywords/age-limits","display_name":"age limits","score":0.8939999938011169}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8438988924026489},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.3528430461883545}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1016/j.jpubeco.2024.105083","doi":"https://doi.org/10.1016/j.jpubeco.2024.105083","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.jpubeco.2024.105083","pdf_url":null,"source":{"id":"https://openalex.org/S199447588","display_name":"Journal of Public Economics","issn_l":"0047-2727","issn":["0047-2727","1879-2316"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Public Economics","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.4390234","doi":"https://doi.org/10.2139/ssrn.4390234","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.4390234","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:eee:pubeco:v:232:y:2024:i:c:s0047272724000197","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0047272724000197","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.1016/j.jpubeco.2024.105083","doi":"https://doi.org/10.1016/j.jpubeco.2024.105083","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.jpubeco.2024.105083","pdf_url":null,"source":{"id":"https://openalex.org/S199447588","display_name":"Journal of Public Economics","issn_l":"0047-2727","issn":["0047-2727","1879-2316"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Public Economics","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G7771322853","display_name":null,"funder_award_id":"RDR18000003","funder_id":"https://openalex.org/F4320313437","funder_display_name":"National Bureau of Economic Research"}],"funders":[{"id":"https://openalex.org/F4320308309","display_name":"U.S. Social Security Administration","ror":"https://ror.org/04b7xxn32"},{"id":"https://openalex.org/F4320313437","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":23,"referenced_works":["https://openalex.org/W296925018","https://openalex.org/W1483423367","https://openalex.org/W1531656318","https://openalex.org/W1556543421","https://openalex.org/W1984590825","https://openalex.org/W2107821354","https://openalex.org/W2135434134","https://openalex.org/W2142208590","https://openalex.org/W2153510573","https://openalex.org/W2171331269","https://openalex.org/W2264850213","https://openalex.org/W2750201667","https://openalex.org/W2947813435","https://openalex.org/W3008547351","https://openalex.org/W3020850935","https://openalex.org/W3022855420","https://openalex.org/W3124377069","https://openalex.org/W3124792145","https://openalex.org/W3125299384","https://openalex.org/W3138344705","https://openalex.org/W4252508094","https://openalex.org/W4381325655","https://openalex.org/W6751785669"],"related_works":["https://openalex.org/W4296432521","https://openalex.org/W2753236320","https://openalex.org/W2488756119","https://openalex.org/W2264850213","https://openalex.org/W7098517665","https://openalex.org/W2282957846","https://openalex.org/W2099651241","https://openalex.org/W7164644429","https://openalex.org/W1990150724","https://openalex.org/W1507757853"],"abstract_inverted_index":{"Tax-benefited":[0],"retirement":[1],"accounts":[2],"have":[3],"features":[4],"designed":[5],"to":[6,25,49,69,92],"encourage":[7],"saving,":[8],"including":[9],"a":[10,21,34,65],"penalty":[11,22,88],"for":[12,23],"withdrawing":[13],"before":[14],"age":[15,31,85],"59.5.":[16],"Account":[17],"holders":[18,48],"also":[19],"face":[20],"failing":[24],"take":[26],"required":[27],"minimum":[28],"withdrawals":[29],"after":[30],"72.":[32],"Using":[33],"bunching":[35],"analysis,":[36],"we":[37,80],"estimate":[38,64],"that":[39,90],"these":[40,75],"penalties":[41],"cause":[42],"over":[43],"17%":[44],"of":[45,60,73,84],"traditional":[46],"IRA":[47],"change":[50],"their":[51],"withdrawal":[52],"timing":[53],"each":[54],"year,":[55],"shifting":[56],"almost":[57],"$60":[58],"billion":[59],"distributions":[61],"annually.":[62],"We":[63],"dynamic":[66],"life-cycle":[67],"model":[68],"analyze":[70],"the":[71],"effect":[72],"changing":[74],"penalties.":[76],"For":[77],"both":[78],"penalties,":[79],"find":[81],"alternative":[82],"combinations":[83],"threshold":[86],"and":[87,96],"rate":[89],"lead":[91],"increased":[93],"average":[94],"welfare":[95],"lifetime":[97],"tax":[98],"remittances.":[99]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":3}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2024-02-24T00:00:00"}
