We show empirically that there is no relation between funding of pensions and economic growth in a sample of OECD- as well as non-OECD countries over the period 2001-2008. This finding contradicts findings of earlier studies, which do not control for capital market returns of pension funds. Our...

We study whether the retirement replacement rate influences households' saving behavior by using the RAND Health and Retirement Study data file. We estimate quantile regressions with the ratio of wealth to permanent income as dependent variable, and age dummies and the retirement replacement...

<title>Abstract</title> Using data from Abiad <italic>et al</italic>. (2008), we estimate a dynamic spatial panel data model with country and time-period fixed effects to test for spatial cointegration in the financial liberalization index. Parameter estimates are obtained by reformulating the model in spatial...