Arbeitspapier
Precautionary Saving and Old-Age Pensions
A precautionary saving model is extended to include old-age pensions and provides the framework for an empirical analysis of the relation between old-age pensions and private consumption. Norwegian macro-data for socioeconomic groups of households are used to estimate consumption functions for workers and pensioners. We find no effects from various approximations of expected pension-income to consumption for workers, but results indicate some influence from labour-income uncertainty. Income elasticities are found to differ considerably between the two groups of households. Implications for effects on aggregate saving from pension policies and of ageing populations are discussed.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Papers ; No. 108
- Klassifikation
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Macroeconomics: Consumption; Saving; Wealth
Social Security and Public Pensions
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Magnussen, Knut A.
- Ereignis
-
Veröffentlichung
- (wer)
-
Statistics Norway, Research Department
- (wo)
-
Oslo
- (wann)
-
1994
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Magnussen, Knut A.
- Statistics Norway, Research Department
Entstanden
- 1994
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