A substantial literature exists on the impact of pension schemes, both public and private, on the level of household saving. Yet there is no clear consensus on the impact of pensions on private saving. In this paper we show how beliefs about this displacement effect are modified by prior beliefs...

There has been very little study of the consequences of pension wealth for the composition of household portfolios. Using individual data for 10,118 Canadian households we estimate the portfolio effect of pension wealth. Because most households do not own all of the assets which we are able to...

A substantial literature exists on the impact of pension schemes, both public and private, on the level of household saving. Yet there is no clear consensus on the impact of pensions on private saving. In this paper we show how beliefs about this displacement effect are modified by prior beliefs...

There has been very little study of the consequences of pension wealth for the composition of household portfolios. Using individual data for 10,118 Canadian households we estimate the portfolio effect of pension wealth. Because most households do not own all of the assets which we are able to...