Giulio Fella

Giulio Fella is Professor of Economics at Queen Mary University of London and research associate at the Centre for Macroeconomics and the Institute for Fiscal Studies.

His main areas of interest are quantitative macroeconomics and labour economics. He has worked on consumption and wealth inequality, the equilibrium analysis of large-scale policy intervention and the welfare and employment implications of employment protection measures. He has also carried out research on numerical methods, human capital investment and family economics.

He has published in various journals including: The Review of Economic Studies, the Journal of the European Economic Association, the Review of Economic Dynamics and the European Economic Review. His research has been funded by grants from the Nuffield Foundation, Netspar and Norface. He holds a PhD from the London School of Economics.

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Professor, Queen Mary University of London

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Consumer Behavior in Financial Markets 2020 “Retirement Savings Adequacy in U.S. Defined Contribution Plans” Enrichetta Ravina. Discussant: Giulio Fella

Over time, there has been a shift from the defined benefit (DB) to the defined contribution (DC) plan. The advantage of the DC plan is that, in theory, workers can pick their level of savings and the way in which the savings are invested. The drawback of that, however, is that if people lack financial literacy, workers could end up worse off than they were during the previous scheme. Hear Enrichetta Ravina present the main findings from their paper including an estimate of the evolution of workers’ savings and investment decisions, for which they use actual past behaviour and observable characteristics instead of a structural life-cycle model. The presentation is followed by commentary by Giulio Fella.