Pension reforms and saving gains in the United Kingdom
AbstractThe empirical validity of the effect of pension reforms on domestic savings in the UK has been investigated using an Auto-regressive Distributed Lag (ARDL) model capable of testing for the existence of a long-run relationship regardless of whether the underlying time series are individually I(1) or I(0). The total savings response to change in pension savings is positive and significant, but an increase in occupational pension saving appears offset by a decrease in other forms of saving. This paper concludes that there is no firm evidence that aggregate savings increase considerably because of privately funded pension schemes.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.
Volume (Year): 7 (2004)
Issue (Month): 2 ()
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Find related papers by JEL classification:
- JEL - Labor and Demographic Economics - - - - -
- Cod - Mathematical and Quantitative Methods - - - - -
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
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