The German Savings Puzzle

Börsch‐Supan, Axel; Reil-Held, Anette; Rodepeter, Ralf; Schnabel, Reinhold; Winter, Joachim

doi:10.1006/reec.2000.0241

Cited by 44 publications

(29 citation statements)

References 10 publications

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“…These excess savings are particularly observed under 9 welfare systems with high pension replacement rates and health care provision (cf. Börsch-Supan et al, 2000.…”

Section: [Figure 3 Public Budget Balances and Household Saving Rates]mentioning

confidence: 99%

Health, Pension Benefits and Longevity: How They Affect Household Savings?

Freitas

Martins

2013

SSRN Journal

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“…These excess savings are particularly observed under 9 welfare systems with high pension replacement rates and health care provision (cf. Börsch-Supan et al, 2000.…”

Section: [Figure 3 Public Budget Balances and Household Saving Rates]mentioning

confidence: 99%

Health, Pension Benefits and Longevity: How They Affect Household Savings?

Freitas

Martins

2013

SSRN Journal

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“…Source: Börsch-Supan (2001a) For the purpose of projecting future savings, the high saving rates among households aged 45-64 are significant because the baby boom generation will enter these ages soon, and because income is highest during those ages. The decline after age 65, which is stronger in the cohortcorrected data than in the raw data, is an interesting puzzle in itself (e.g., see Banks, Blundell and Tanner, 2000;Börsch-Supan, 2001b), however, for a projection of total saving it turns out to be less significant because the population weights decrease with age due to mortality and because retirement income is lower than income at age 45-64.…”

Section: A Composition Effects Of Population Ageing On Savingmentioning

confidence: 99%

Savings: the policy debate in Europe

Börsch‐Supan

Brugiavini

2001

Oxford Review of Economic Policy

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Three issues dominate the public policy debate over savings in Continental Europe. First, can private savings substitute for public pensions in the provision of retirement income, given that the current generosity of pay-as-you-go financed pensions is hardly sustainable in the light of population ageing? And if so, which policy steps have to be taken to alleviate this transition? Second, does the evolution of a "new financial landscape" in Europe necessitate policy response in terms of taxation and regulation, specifically considering the increase in pension funds? And third, closely related to the other two issues, is there too much or too little saving in an ageing Europe? Will pension reform and the new financial landscape increase or decrease overall saving? Do we need to subsidise saving more or less than we currently do? The paper reviews economic theory and empirical evidence on these intertwined issues. Most importantly, it identifies many gaps in our theoretical and empirical knowledge that caution us against overly strong policy recommendations. Addresses:MEA,

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“…It is noteworthy that for the purpose of projecting future savings, the high saving rates among households aged 45-64 are significant because the baby boom generation will enter these ages soon, and because income is highest during those ages. The decline after age 65, which is stronger in the cohort-corrected data than in the raw data, is an interesting puzzle in itself (e.g., see Banks, Blundell and Tanner, 2000;Börsch-Supan, 2001b), however, for a projection of total saving it turns out to be less significant because the population weights decrease with age due to mortality and because retirement income is lower than income at age 45-64.…”

Section: Evidence On Life-cycle Savings Behaviormentioning

confidence: 99%

What We Know and What We do not Know about the Willingness to Provide Self-Financed Old-Age Insurance

Börsch‐Supan¹

2001

Pensions: More Information, Less Ideology

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As the publicly financed pay-as-you-go pension systems in Europe come under increasing pressure, workers and politicians rediscover private savings for retirement in Europe -the provision of selffinanced rather than state-financed old-age insurance. This paper summarizes our knowledge about the retirement savings motive, and particularly the willingness of individuals to participate in voluntary and/or mandatory private saving schemes for retirement. We also review our knowledge of crowdingout effects, that is, to which extent state-financed old-age insurance substitutes for self-provided old-age insurance, and to which extent retirement saving crowd out other saving. The state of the art is less than satisfactory. We have little reliable evidence on life-cycle saving patterns and its policy determinants. Moreover, while we have some convincing evidence that there is substitution between public and private old-age insurance, the extent of potential crowding out is still very much disputed. One of the main reasons is lack of suitable data. The paper points to specific strategies that enable our governments to base current and future pension reform decisions on a more solid foundation.

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The German Savings Puzzle

Cited by 44 publications

References 10 publications

Health, Pension Benefits and Longevity: How They Affect Household Savings?

Health, Pension Benefits and Longevity: How They Affect Household Savings?

Savings: the policy debate in Europe

What We Know and What We do not Know about the Willingness to Provide Self-Financed Old-Age Insurance

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