Do Funded Pensions Contribute to Higher Aggregate Savings?: A Cross-Country Analysis
This paper provides statistically significant international evidence on the interaction between funded pensions and aggregate savings, after controlling for country-specific effects and for other saving determinants that have typically been identified in earlier cross-country studies. Using panel da...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1997
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| Schriftenreihe: | OECD Development Centre Working Papers
no.130 |
| Schlagworte: | |
| Online-Zugang: | DE-862 DE-863 |
| Zusammenfassung: | This paper provides statistically significant international evidence on the interaction between funded pensions and aggregate savings, after controlling for country-specific effects and for other saving determinants that have typically been identified in earlier cross-country studies. Using panel data for eleven countries (both OECD and non-OECD), this study goes beyond earlier work which has been based on individual country studies only (which have suffered from a small number of degrees of freedom). Building several proxies of pension wealth based on internationally comparable pension fund and life insurance data, the paper estimates the relationship between aggregate saving rates and pension wealth using ordinary least squares and two-stage least squares over the 1982-93 period. The empirical analysis supports the predictions of a simple two-period life-cycle saving model that incorporates tax treatment of pension returns, population heterogeneity, capital market imperfection and ... |
| Beschreibung: | 1 Online-Ressource (47 Seiten) 21 x 29.7cm. |
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| spelling | Bailliu, Jeanine VerfasserIn aut Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis Jeanine, Bailliu and Helmut, Reisen Paris OECD Publishing 1997 1 Online-Ressource (47 Seiten) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Development Centre Working Papers no.130 This paper provides statistically significant international evidence on the interaction between funded pensions and aggregate savings, after controlling for country-specific effects and for other saving determinants that have typically been identified in earlier cross-country studies. Using panel data for eleven countries (both OECD and non-OECD), this study goes beyond earlier work which has been based on individual country studies only (which have suffered from a small number of degrees of freedom). Building several proxies of pension wealth based on internationally comparable pension fund and life insurance data, the paper estimates the relationship between aggregate saving rates and pension wealth using ordinary least squares and two-stage least squares over the 1982-93 period. The empirical analysis supports the predictions of a simple two-period life-cycle saving model that incorporates tax treatment of pension returns, population heterogeneity, capital market imperfection and ... Development Reisen, Helmut MitwirkendeR ctb |
| spellingShingle | Bailliu, Jeanine Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis Development |
| title | Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis |
| title_auth | Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis |
| title_exact_search | Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis |
| title_full | Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis Jeanine, Bailliu and Helmut, Reisen |
| title_fullStr | Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis Jeanine, Bailliu and Helmut, Reisen |
| title_full_unstemmed | Do Funded Pensions Contribute to Higher Aggregate Savings? A Cross-Country Analysis Jeanine, Bailliu and Helmut, Reisen |
| title_short | Do Funded Pensions Contribute to Higher Aggregate Savings? |
| title_sort | do funded pensions contribute to higher aggregate savings a cross country analysis |
| title_sub | A Cross-Country Analysis |
| topic | Development |
| topic_facet | Development |
| work_keys_str_mv | AT bailliujeanine dofundedpensionscontributetohigheraggregatesavingsacrosscountryanalysis AT reisenhelmut dofundedpensionscontributetohigheraggregatesavingsacrosscountryanalysis |