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Title:Can governments boost voluntary retirement savings via tax incentives and subsidies? A German case study for low-income households PDF Logo
Authors:Corneo, Giacomo
Keese, Matthias
Schröder, Carsten
Issue Date:2008
Series/Report no.:Economics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2008,18
Abstract:Since 2002 the German government has promoted private retirement saving plans by means of special subsidies and tax incentives (Riester scheme). This policy mainly targets low-income households. Using data from the German Socio-economic Panel, we scrutinize the impact of the Riester scheme on private savings. Our empirical strategy consists of treating the introduction of the Riester scheme as a natural experiment. The estimation results cast some doubts on the effectiveness of the Riester scheme in raising private savings and call for enhanced systematic efforts to evaluate that policy.
Subjects:retirement saving
Riester scheme
tax incentives
subsidy incentives
pensions
treatment analysis
JEL:D12
I38
H31
H24
D14
Document Type:Working Paper
Appears in Collections:Economics Working Papers, Department of Economics, CAU Kiel

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