Household saving rates and the design of public pension programmes: cross-country evidence

Richard Disney

Discussion Papers from University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM)

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.

Keywords: pension reform; household saving. (search for similar items in EconPapers)
Date: 2007-02
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Persistent link: https://EconPapers.repec.org/RePEc:not:notcfc:07/02

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