I study the relationship between household saving and pensions, and estimate both the displacement effect of pensions … on private saving and the precautionary saving effect due to uncertainty in pension income. Using a lifecycle framework …, the consumption function depends on expected pension benefits and pension risk. I estimate the savings equation implied by …

This paper develops an analytical framework for the design of pension systems, taking the functions of the pension …

Growing pension savings lead to deeper capital markets. This can have a positive effect on economic growth by allowing …-time, industry-time and industry-country fixed effects. We find a significant impact of higher level of pension savings on growth in …

from wage-employment to self-employment. To isolate the causal effect of wealth, we used a pension system reform in 2006 as … substantial reduction of their pension wealth. Our empirical results are robust to the checks on the anticipation effects and the … placebo effects, and show that the (pension) wealth change has a significant positive causal effect on the transition into …

This paper analyses the distributional effects of the Polish old‐age pension reform introduced in 1999. Following a … benchmark Mincer earnings equation, and using a newly developed microsimulation model we project future pension benefits for … males born in years 1969‐1979. We find that inequality of predicted first pension benefits measured by the Gini coefficient …

constraints. The results point to mandatory pension savings having a large effect on total household savings. Thus, pension …We estimate the crowding-out effect of the Danish mandatory labour market pension reforms begun in 1993 on the level of … total household savings for renters. The effect is identified via a large panel of individual administrative records …

English Longitudinal Study of Aging, an optimal level of wealth is calculated for each household. This is then compared to the …

embodying social transfers (health care and pension expenditures) and changes in longevity to determine the level of household …This paper analyses the impact of health, pension systems and longevity on savings. It uses a simple life-cycle model … of view of incentive to save, health transfers have a similar impact as pension replacement rates. Therefore, welfare …

annuity market participation increases with financial wealth, life expectancy and education and decreases with other pension …