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Thrifty Pensioners: Pensions and Savings in France at the Turn of the Twentieth Century

Jérôme Bourdieu, Lionel Kesztenbaum () and Gilles Postel-Vinay

The Journal of Economic History, 2011, vol. 71, issue 02, 383-412

Abstract: Building on a large sample of elderly French individuals, we evaluate the resources that were available to the old. We find that a considerable percentage of the French population did not have sufficient assets to live off of when aged. We compare the savings behaviors of pensioners and non-pensioners at a time when only a small part of the labor force was entitled to a pension. We show that pensioners were better able to accumulate wealth than were non-pensioners, even when we take into account their occupation and inherited wealth.

Date: 2011
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