The effects of Life Assurance and Pension Funds on Other Savings : The Postwar U.K. Experience
AbstractThe main purpose of this paper is to test the substitution hypothesis of saving for the case of Life Assurance and Pension Funds (LAPF) on the one hand, and other (personal and corporate) savings on the other. The focus is the postwar U.K. period. Earlier U.K. findings on this issue rejected the substitution hypothesis. Most, in particular time series studies though, are subject to various limitations : that is, they focused on a very short period of time : made an uncritical use of the official data, that may cast doubt on their results : estimated consumption functions, which do not explicitly allow the testing of the effects of LAPF on other than personal savings too, such as corporate retentions : finally, confined their attention to - in most cases - one specification of the consumption function.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 252.
Length: 30 pages
Date of creation: 1984
Date of revision:
Other versions of this item:
- Pitelis, Christos N, 1985. "The Effects of Life Assurance and Pension Funds on Other Savings: The Postwar UK Experience," Bulletin of Economic Research, Wiley Blackwell, Wiley Blackwell, vol. 37(3), pages 213-29, September.
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- David Blake, 2002.
"The impact of wealth on consumption and retirement behaviour in the UK,"
LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library
24949, London School of Economics and Political Science, LSE Library.
- David Blake, 2004. "The impact of wealth on consumption and retirement behaviour in the UK," Applied Financial Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 14(8), pages 555-576.
- Alicia H. Munnell & Frederick O. Yohn, 1991. "What is the impact of pensions on saving?," Working Papers, Federal Reserve Bank of Boston 91-5, Federal Reserve Bank of Boston.
- Hidalgo, Pedro & Manzur, Enrique & Olavarrieta, Sergio & Farias, Pablo, 2008. "Customer retention and price matching: The AFPs case," Journal of Business Research, Elsevier, Elsevier, vol. 61(6), pages 691-696, June.
- Karunarathne, Wasana & Abeysinghe, Tilak, 2005. "Does mandatory pension savings crowd out private savings?: The experience of Sri Lanka," Journal of Asian Economics, Elsevier, Elsevier, vol. 16(5), pages 830-846, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Neal).
If references are entirely missing, you can add them using this form.