Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/189930 
Autor:innen: 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
Sveriges Riksbank Working Paper Series No. 330
Verlag: 
Sveriges Riksbank, Stockholm
Zusammenfassung: 
This paper investigates the relationship between household saving and pensions, and estimates both the displacement effect of pensions on private saving and the precautionary saving effect due to uncertainty in pension income. I estimate the savings equation derived from a lifecycle model featuring income uncertainty using survey data for Dutch households, with subjective expectations on pension benefits and uncertainty. Exploiting exogenous variation due to pension fund performance, I find that households save significantly more due to uncertainty in pension income. Not controlling for uncertainty biases the estimated displacement effect of pensions on private savings towards zero.
Schlagwörter: 
Precautionary saving
Displacement effect
Subjective expectations
JEL: 
D91
H55
J26
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
368.35 kB





Publikationen in EconStor sind urheberrechtlich geschützt.