An Evaluation of the Impact of the Pension System on Income Inequality: USA, UK, Netherlands, Italy and Türkiye

Can Verberi () and Muhittin Kaplan ()
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Can Verberi: Sirnak University
Muhittin Kaplan: Ibn Haldun Universtiy

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2024, vol. 174, issue 3, No 6, 905-931

Abstract: Abstract This study examines empirically the impact of various characteristics of pension systems, in particular their quality and integrity, on income inequality, utilizing micro-level data from the United States, United Kingdom, Netherlands, Türkiye and Italy. To this end, the income inequality model, which includes public pension (or public/private pension mix), age, education, gender, marital status and employment as independent variables, has been estimated using quantile regression. The results provide a number of valuable information on the impact of the pension system on income inequality: (i) Public pension income significantly reduces overall income inequality across almost all inequality groups in all countries, except for the UK and the Netherlands; (ii) Different types of pension systems vary significantly in their redistributive effects on income; (iii) The empirical results also show that the effect of different pension systems on inequality changes by inequality groups significantly.

Keywords: Personal income inequality; Pension system types; Public/private pension mix; Quantile regression (search for similar items in EconPapers)
JEL-codes: D31 D63 E25 G23 H55 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11205-024-03417-5

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