Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/190044 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
WIDER Working Paper No. 2017/199
Verlag: 
The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki
Zusammenfassung: 
We examine the heterogeneous and dynamic impact of China's New Rural Pension Scheme on intergenerational wealth dependence using a nationally representative longitudinal household survey covering the period 2011-13. We adopt an instrumental quantile regression-discontinuity design to address the endogeneity of partial compliance of the pension scheme and the observed individual heterogeneity. Overall, we find that the pension scheme smooths wealth dependence between generations in the short term, but strengthens the persistence of assets among the wealthiest households in the medium term. The mechanisms underlying these distributional effects are intergenerational transfers, time reallocation, and filial adjustments of the wealth portfolio. Complementary policy interventions, particularly for the poor across generations, would be needed to neutralize the distributional impact of the pension in terms of intergenerational wealth persistence.
Schlagwörter: 
China
intergenerational mobility
pension
quantile treatment effect
wealth
JEL: 
D31
H55
I38
O53
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-9256-425-4
Dokumentart: 
Working Paper

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