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Do private pension funds increase household consumption ? An empirical study

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3F4D62DBd01.pdf (251.4Kb)
Date
2002
Publisher city
Paris
Publisher
Université Paris-Dauphine
Collection title
Cahiers de recherche d'EURISCO
Collection Id
2002-03
Dewey
Macroéconomie
Sujet
private pension funds; saving; Household consumption
JEL code
G23; E21; C2
URI
https://basepub.dauphine.fr/handle/123456789/6125
Collections
  • LEDa : Publications
Metadata
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Author
El Mekkaoui de Freitas, Najat
Mourougane, Annabelle
Ralle, Pierre
Type
Document de travail / Working paper
Item number of pages
26
Abstract (EN)
Private pension plans are now an important source of retirement income, especially in the United Kingdom and in the United States. They play an increasing role in the economy of most of the OECD countries. Therefore, we analyse the effect of pensions on private consumption. We focus on the estimation of a ECM consumption function in the case of the United States and the United Kingdom. It is shown that pension funds would have a negative impact on households’saving ratio. However, these estimations remain fragile, given the very limited number of observations avalaible. Some preliminary estimations on panels data are then implemented, showing no impact of pension funds on private consumption.

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