Arbeitspapier

Retirement expectations, pension reforms, and their impact on private wealth accumulation

We estimate the effect of pension reforms on households' expectations of retirement outcomes and private wealth accumulation decisions exploiting a decade of intense Italian pension reforms as a source of exogenous variation in expected pension wealth. The Survey of Household Income and Wealth, a large random sample of the Italian population, elicits expectations of the age at which workers expect to retire and of the ratio of pension benefits to pre-retirement income between 1989 and 2002. We find that workers have revised expectations in the direction suggested by the reform and that there is substantial offset between private wealth and perceived pension wealth, particularly by workers that are better informed about their pension wealth.

Sprache
Englisch

Erschienen in
Series: CFS Working Paper ; No. 2006/10

Klassifikation
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Social Security and Public Pensions
Thema
Expectations
Pension Reform
Rentenreform
Erwartungstheorie
Alterssicherung
Haushaltseinkommen
Italien

Ereignis
Geistige Schöpfung
(wer)
Bottazzi, Renata
Jappelli, Tullio
Padula, Mario
Ereignis
Veröffentlichung
(wer)
Goethe University Frankfurt, Center for Financial Studies (CFS)
(wo)
Frankfurt a. M.
(wann)
2006

Handle
URN
urn:nbn:de:hebis:30-26018
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Bottazzi, Renata
  • Jappelli, Tullio
  • Padula, Mario
  • Goethe University Frankfurt, Center for Financial Studies (CFS)

Entstanden

  • 2006

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