Pension Incomes in the European Union: Policy Reform Strategies in Comparative Perspective

Mantovani, Daniela; Papadopoulos, Fotis; Sutherland, Holly; Τσακλόγλου, Πάνος

doi:10.1016/s0147-9121(06)25002-7

Cited by 9 publications

(4 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…More specifically, a number of studies have quantified the degree of substitution between public pensions and private savings (see Börsch‐Supan and Reil‐Held, 1998; Williamson, 1999; Attanasio and Brugiavini, 2003; Hurd et al ., 2009). Researchers have also investigated the effect of specific pension reforms on retirement ages and savings levels, as well as the level and distribution of retirement incomes (see Beetsma et al ., 2001; Bonin et al ., 2001; Bingley et al ., 2002; Mantovani et al ., 2005; Jiménez‐Martín and Sánchez Martín, 2007; Sánchez Martín, 2008; Geyer and Steiner, 2010). This previous pension literature, however, is nearly silent on the consequences of means testing per se.…”

Section: Introductionmentioning

confidence: 99%

Portfolio Allocation in the Face of a Means‐tested Public Pension

Cobb‐Clark

Hildebrand

2011

Review of Income and Wealth

View full text Add to dashboard Cite

Is there evidence that households adjust their asset portfolios just prior to retirement in response to a means-tested public pension? We address this question by estimating a system of asset equations constrained to add up to net worth. We nd little evidence that in 2006 healthy households or couples responded to the incentives embedded in the means test determining pension eligibility by reallocating their assets. While there are some signi cant differences in asset portfolios associated with being near the income threshold, being of pensionable age, and being in poor health these differences are often only marginally signi cant, are not robust across time, and are not clearly consistent with the incentives inherent in the pension eligibility rules. In 2006, any behavioral response to the means test seems to occur among single pensioners in poor health. Comparison with 2002 results suggests the incentives to reallocate assets may have weakened over time.Keywords: asset portfolios; means testing; public pension; household wealth JEL classi cation codes: H30; H31; D31 This paper uses con dentialised unit record le data from the Household, Income and Labor Dynamics in Australia (HILDA) survey. The HILDA Project was initiated and is funded by the Department of Families, Housing, Community Services, and Indigenous Affairs (FaHCSIA) and is managed by the Melbourne Institute of Applied Economic and Social Research (MIAESR). The ndings and views reported in this paper, however, are those of the authors and should not be attributed to FaHCSIA or MIAESR.y Deborah Cobb-Clark, Economics Program, RSSS, ANU, Canberra Australia 0200. E-mail: deborah. cobb-clark@anu.edu.au. Phone: (61)

show abstract

Section: Introductionmentioning

confidence: 99%

Portfolio Allocation in the Face of a Means‐tested Public Pension

Cobb‐Clark

Hildebrand

2011

Review of Income and Wealth

View full text Add to dashboard Cite

show abstract

“…Our data do not provide evidence in favour of their predictions. With GSOEP data, Mantovani et al (2005) investigate the impacts of alternative pension reforms on old age poverty rates, Schwarze and Frick (2000) the distribution among the elderly from the mid-1980 th to the mid-1990 th . Schwarze and Frick find inequality to be U-shaped over time, and slightly increasing in more recent years of the observation period.…”

Section: Candidate Databases and Results From Previous Studiesmentioning

confidence: 99%

Incomes and Inequality in the Long Run: The Case of German Elderly

Bönke

Schröder

Schulte

2010

German Economic Review

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract. We employ German Sample Survey Income data to examine income inequality and the financial situation of elderly citizens for the period from 1978 to 2003, focussing on differences between retired and non-retired elderly and between elderly with residence in the Old and the New German Laender. Inter-temporal changes in income inequality are also decomposed by income sources. To our knowledge, this is the first study that provides comparable and detailed longitudinal income statistics for the German elderly. We find some remarkable inter-temporal patterns. First, the financial situation of the elderly has improved substantially over time. This is true especially for the New Laender, although elderly with residence in the Old Laender remain financially privileged. Within the same age cohort, we also find that non-retired, on average, are financially better-off compared to retired elderly. Terms of use: Documents inFor reunified Germany, inequality is astonishingly stable over time, but rises significantly since 1993 in the New German Laender.

show abstract

“…The high value for the US is due to a high level of income in the ninth decile (about $57000), and not from a low first decile. The income in the first decile is approximately at the same level for several countries, the exceptions being lower incomes in Spain, only about $5500, and Italy $7200 and higher in Canada and Norway $12700 and 1 Recent exceptions are Mantovani et. al (2005) who use the micro simulation model EUROMOD to study pension income for the EU-15.…”

Section: Sweden In An International Comparisonmentioning

confidence: 97%

The Income of the Swedish Baby Boomers

2006

View full text Add to dashboard Cite

Any opinions expressed here are those of the author(s) and not those of the institute. Research disseminated by IZA may include views on policy, but the institute itself takes no institutional policy positions.The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit company supported by Deutsche Post World Net. The center is associated with the University of Bonn and offers a stimulating research environment through its research networks, research support, and visitors and doctoral programs. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public.IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion.

show abstract

Pension Incomes in the European Union: Policy Reform Strategies in Comparative Perspective

Cited by 9 publications

References 11 publications

Portfolio Allocation in the Face of a Means‐tested Public Pension

Portfolio Allocation in the Face of a Means‐tested Public Pension

Incomes and Inequality in the Long Run: The Case of German Elderly

The Income of the Swedish Baby Boomers

Contact Info

Product

Resources

About