Empirical analyses of the effects of public and private pensions on household saving impose strong assumptions in order … household wealth is crowded out by pensions? (2) Can linear regression analysis accurately estimate the magnitude of crowdout … results indicate that private pensions in the US crowd out less than $0.15 of household saving per dollar of pension wealth …

, collective model of the household in which spouses have the ability to commit to an ex ante efficient allocation. The results are … consistent with a model of limited commitment in which a shock to household resources can alter bargaining power. We discuss the …