Social security pension and the effect on household saving

被引：0

作者：

Halvorsen, Elin ^{[1
]}

Jia, Zhiyang ^{[1
]}

Kruse, Herman ^{[1
]}

Vigtel, Trond C. ^{[1
]}

机构：

[1] Statistics Norway, NO-0131 Oslo, Norway

来源：

SCANDINAVIAN JOURNAL OF ECONOMICS | 2024年 / 126卷 / 03期

关键词：

Difference-in-difference; household saving; pension reform; quasi-natural experiment; EARNINGS TEST; RETIREMENT; WEALTH; ACCOUNTS; REFORMS;

D O I：

10.1111/sjoe.12550

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper, we examine the substitution between pension wealth and household saving. To identify the effect of reductions in social security pension wealth on household saving, we utilize variations in changes in social security pension wealth induced by Norway's 2011 reform across different cohorts, time periods, and sectors. Our study focuses on the saving behaviors of individuals between the ages of 57 and 61, and we find that the annual saving rate increased by around 1.4 percentage points after the reform. When considering the overall life-cycle changes in household saving, this corresponds to a crowd-out effect of about 50 percent of the total loss in pension wealth.

引用

页码：529 / 560

页数：32

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