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The Riester Scheme and Private Savings: An Empirical Analysis based on the German SOEP

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  • Giacomo Corneo
  • Matthias Keese
  • Carsten Schröder

Abstract

Since 2002 the German government has promoted private retirement saving plans by means of special subsidies and tax incentives: the Riester scheme. This policy mainly targets low-income households. Using data from the German Socio-economic Panel, we scrutinize the impact of the Riester scheme on private savings. The introduction of the Riester scheme is treated as a natural experiment. Estimation results cast some doubts on the effectiveness of the Riester scheme and call for enhanced efforts to evaluate that policy.

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File URL: http://dx.doi.org/10.3790/schm.129.2.321
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Bibliographic Info

Article provided by Duncker & Humblot, Berlin in its journal Schmollers Jahrbuch.

Volume (Year): 129 (2009)
Issue (Month): 2 ()
Pages: 321-332

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Handle: RePEc:aeq:aeqsjb:v129_y2009_i1_q1_p321-332

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Cited by:
  1. Dominik Rumpf & Wolfgang Wiegard, 2012. "Kapitalertragsbesteuerung und Kapitalkosten," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 13(1-2), pages 52-81, 02.
  2. Giacomo Corneo & Matthias Keese & Carsten Schröder, 2010. "The Eff ect of Saving Subsidies on Household Saving – Evidence from Germanys," Ruhr Economic Papers 0170, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  3. Christian Pfarr & Udo Schneider, 2011. "Anreizeffekte und Angebotsinduzierung im Rahmen der Riester‐Rente: Eine empirische Analyse geschlechts‐ und sozialisationsbedingter Unterschiede," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 12(1), pages 27-46, 02.
  4. Ingmar Kumpmann & Michael Guehne & Herbert S. Buscher, 2012. "Armut im Alter – Ursachenanalyse und eine Projektion fuer das Jahr 2023," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 232(1), pages 61-83, January.
  5. Clovis Kerdrain & Isabell Koske & Isabelle Wanner, 2011. "Current Account Imbalances: can Structural Reforms Help to Reduce Them?," OECD Journal: Economic Studies, OECD Publishing, vol. 2011(1), pages 1-44.
  6. Clovis Kerdrain & Isabell Koske & Isabelle Wanner, 2010. "The Impact of Structural Policies on Saving, Investment and Current Accounts," OECD Economics Department Working Papers 815, OECD Publishing.
  7. Christian Pfarr & Udo Schneider, 2010. "Angebotsinduzierung und Mitnahmeeffekt im Rahmen der Riester-Rente: eine empirische Analyse," SOEPpapers on Multidisciplinary Panel Data Research 341, DIW Berlin, The German Socio-Economic Panel (SOEP).
  8. Bucher-Koenen, Tabea, 2011. "Financial Literacy, Riester Pensions, and Other Private Old Age Provision in Germany," MEA discussion paper series 11250, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

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