The Effect of Public Pension Wealth on Saving and Expenditure

Marta Lachowska and Michal Myck

American Economic Journal: Economic Policy, 2018, vol. 10, issue 3, 284-308

Abstract: This paper examines the degree of substitution between public pension wealth and private saving by studying Poland's 1999 pension reform. The analysis identifies the effect of pension wealth on private saving using cohort-by-time variation in pension wealth induced by the reform. The estimates, which are based on the 1997-2003 Polish Household Budget Surveys, show that 1 Polish zloty (PLN) less of pension wealth increases household saving by 0.3 PLN. Among highly educated households, pension wealth and private saving appear to be close substitutes.

JEL-codes: D14 E21 H55 I38 (search for similar items in EconPapers)
Date: 2018
Note: DOI: 10.1257/pol.20150154
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Citations: View citations in EconPapers (33)

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Related works:
Working Paper: The Effect of Public Pension Wealth on Saving and Expenditure (2015)
Working Paper: The Effect of Public Pension Wealth on Saving and Expenditure (2015)
Working Paper: The Effect of Public Pension Wealth on Saving and Expenditure
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