Arbeitspapier
Intra-household allocation of non-mandatory retirement savings
Traditionally, households have been seen as acting as a single unit when it comes to savings. Although this might be correct for some parts of household savings, we question the correctness of the unitary model with respect to non-mandatory retirement savings. Therefore we analyze the intra-household allocation of retirement savings between partners in Germany taking an individualistic approach.First, the decision to save at all is analyzed using a seemingly unrelated bivariate probit model, showing that the possession of retirement saving accounts among spouses is positively correlated, hinting at a "crowding-in" of saving accounts. However, this could be only due to some tax reasons. Thus, we analyze additionally the interaction of savings between spouses using three-stage least squares, allowing for endogeneity between the spouse's savings. These results additionally show a "crowding-in" of total retirement savings amounts between spouses, probably due to some "peer effect". The unitary model of household decision making can thus be rejected with respect to retirement savings.
- Sprache
-
Englisch
- Erschienen in
-
Series: Diskussionsbeiträge ; No. 64
- Klassifikation
-
Wirtschaft
Household Saving; Personal Finance
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Fiscal Policies and Behavior of Economic Agents: Household
- Thema
-
savings
intra-household allocation
retirement
life-cycle
unitary model
savings
three-stage least squares
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Metzger, Christoph
- Ereignis
-
Veröffentlichung
- (wer)
-
Albert-Ludwigs-Universität Freiburg, Forschungszentrum Generationenverträge (FZG)
- (wo)
-
Freiburg i. Br.
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Metzger, Christoph
- Albert-Ludwigs-Universität Freiburg, Forschungszentrum Generationenverträge (FZG)
Entstanden
- 2017
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