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Household Saving Rates and the Design of Public Pension Programmes: Cross–Country Evidence

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  • Richard Disney

    (University of Nottingham and Institute for Fiscal Studies, London. Tel: +44 1159 515619. richard.disney@nottingham.ac.uk)

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    Abstract

    I argue that the offsetting effect of public pension contributions on household retirement saving depends on how closely the public pension programme imitates a private retirement saving plan (i.e. the ‘actuarial’ content of the public pension programme)–the closer the design of the programme to a private retirement saving plan, the higher the offset. I estimate the determinants of household saving rates in a cross–country panel, augmenting standard measures of public pension programme generosity and cost by indicators that proxy the actuarial component of the programme. These indicators affect saving rates as predicted.

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    Bibliographic Info

    Article provided by National Institute of Economic and Social Research in its journal National Institute Economic Review.

    Volume (Year): 198 (2006)
    Issue (Month): 1 (October)
    Pages: 61-74

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    Handle: RePEc:sae:niesru:v:198:y:2006:i:1:p:61-74

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    Keywords: Pension reform; Household saving;

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    Cited by:
    1. Richard Disney & Carl Emmerson & Matthew Wakefield, . "Pension Provision and Retirement Saving: Lessons from the United Kingdom," Discussion Papers 07/01, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    2. John Creedy & Shuyun May Li & Solmaz Moslehi, 2009. "The Composition of Government Expenditure in an Overlapping Generations Model," Department of Economics - Working Papers Series 1064, The University of Melbourne.

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