The effects of the introduction of tax incentives on retirement saving
Juan F Jimeno () and
Ernesto Villanueva ()
Additional contact information
Juan Ayuso: Banco de España
SERIEs: Journal of the Spanish Economic Association, 2019, vol. 10, issue 3, No 2, 249 pages
Abstract We examine the incidence on household consumption of the introduction of tax incentives to retirement saving. First, using data from a panel of tax returns we document that most contributions to pension funds are by older/high-income individuals. Then we use panel data from a consumption survey spanning the period 1985 and 1991 to find that there is substantial heterogeneity in the response of household saving to tax incentives. While the overall amount of new saving we estimate is limited (at most 19 cents per euro contributed on average), saving responses differ substantially across age groups: among the group of households between 56 and 65 years of age, the group that most actively contributed to the plan, there are very small consumption changes; among the group of households between 46 and 55 years of age, the decrease in (mostly durable) consumption expenditures is much larger.
Keywords: Pension funds; Tax incentives; Saving (search for similar items in EconPapers)
JEL-codes: D14 H24 H55 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s13209-019-0195-7 Abstract (text/html)
Working Paper: The effects of the introduction of tax incentives on retirement savings (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:series:v:10:y:2019:i:3:d:10.1007_s13209-019-0195-7
Ordering information: This journal article can be ordered from
Access Statistics for this article
SERIEs: Journal of the Spanish Economic Association is currently edited by Nezih Guner
More articles in SERIEs: Journal of the Spanish Economic Association from Springer, Spanish Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().