Private wealth and retirement in France

T. Blanchet, Y. Dubois, A. Marino and Muriel Roger
Additional contact information
T. Blanchet: Ensae-PSE
Y. Dubois: Insee
A. Marino: Insee
Authors registered in the RePEc Author Service: Thomas Blanchet and Didier BLANCHET

Documents de Travail de l'Insee - INSEE Working Papers from Institut National de la Statistique et des Etudes Economiques

Abstract: This document relies on the 2009-2010 French wealth survey (enquête Patrimoine) and the dynamic microsimulation model Destinie to reevaluate substitution effects between pension entitlements and private savings for French Households. Savings behavior is modeled after Gale (1998). Our results highlight the existence of a substitution effect between household savings and their pension. The magnitude of these 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. It is this latter effect that dominates.

Keywords: Wealth; Social Security; Pensions; Life Cycle (search for similar items in EconPapers)
JEL-codes: D31 D91 H55 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:nse:doctra:g2016-10

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