Pension wealth and household savings in Europe

Rob Alessie, Viola Angelini and P.C. van Santen
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P.C. van Santen: Groningen University

No 12012-EEF, Research Report from University of Groningen, Research Institute SOM (Systems, Organisations and Management)

Abstract: We use recently collected retrospective survey data to estimate the displacement effect of pension wealth on household savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the entire job history of the respondent, a feature missing in most previous studies. We show that addressing measurement error problems is crucial to estimate the displacement effect when using survey data. We find that each euro of pension wealth is associated with a 47 (61) cent decline in non

Date: 2012
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