The effect of public pension wealth on saving and expenditure

Marta Lachowska (W.E. Upjohn Institute), Michal Myck (Centre for Economic Analysis)

This paper examines the degree of substitution between public pension wealth and private saving by studying Poland's 1999 pension reform. The analysis identifies the effect of pension wealth on private saving using cohort-by-time variation in pension wealth induced by the reform. The estimates, which are based on the 1997-2003 Polish Household Budget Surveys, show that 1 Polish zloty (PLN) less of pension wealth increases household saving by 0.3 PLN. Among highly-educated households, pension wealth and private saving appear to be close substitutes.

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Year of publication:	2017 ; Revised: June 19, 2017
Authors:	Lachowska, Marta ; Myck, Michał
Publisher:	Kalamazoo, MI : W.E. Upjohn Institute for Employment Research
Subject:	Pension reforms \| private saving \| difference-in-differences \| natural experiment \| Gesetzliche Rentenversicherung \| Public pension system \| Verdrängungseffekt \| Crowding out \| Vorsichtssparen \| Precautionary saving \| Rentenreform \| Pension reform \| Wirkungsanalyse \| Impact assessment \| Haushaltsstatistik \| Household survey \| Polen \| Poland \| 1997-2003

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Extent:	1 Online-Ressource (circa 56 Seiten) Illustrationen
Series:	Upjohn Institute working papers. - Kalamazoo, Mich. : [Verlag nicht ermittelbar], ZDB-ID 2164806-2. - Vol. 15, 223
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	10.17848/wp15-223 [DOI] hdl:10419/173245 [Handle]
Classification:	E21 - Consumption; Saving ; H55 - Social Security and Public Pensions ; I38 - Government Policy; Provision and Effects of Welfare Programs ; P35 - Public Economics
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011760297