Patrimoine privé et retraite en France

Thomas Blanchet, Yves Dubois, Anthony Marino and Muriel Roger

Revue française d'économie, 2016, vol. Volume XXXI, issue 1, 207-244

Abstract: The existence of a pension system affects the saving behavior of households. We estimate the substitution effect between private savings and pension wealth using the French wealth survey Patrimoine and the pension microsimulation model Destinie of the French NIS (INSEE). Saving behavior is modeled after Gale (1998). Our results highlight the existence of a substitution effect between household savings and their pension. The magnitude of those effects is sensitive to the discount rate of agents. An increase in public pensions leads to a decrease in complementary pension products and real estate investment. The effect of the latter dominates.

Date: 2016
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Related works:
Working Paper: Patrimoine privé et retraite en France (2016)
Working Paper: Patrimoine privé et retraite en France (2016)
Working Paper: Patrimoine privé et retraite en France (2016)
Working Paper: Patrimoine privé et retraite en France (2016)
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