Lachowska, Marta; Myck, Michał - 2017 - Revised: June 19, 2017
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 …-educated households, pension wealth and private saving appear to be close substitutes. …