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The Effect of Saving Subsidies on Household Saving – Evidence from GermanyGiacomo CorneoFree University of Berlin (FUB); Universität Osnabrück - Faculty of Business Administration - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Centre for Economic Policy Research (CEPR); Institute for the Study of Labor (IZA) Matthias KeeseRuhr Graduate School in Economics Carsten Schröderaffiliation not provided to SSRN February 1, 2010 Ruhr Economic Paper No. 170 Abstract: Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax exemptions – the so-called Riester scheme. We apply matching and panel regression techniques to assess the impact of the Riester scheme on households’ propensities to save in a natural experiment framework. Estimation results from both the German Socio-Economic Panel and the SAVE study indicate that private saving was hardly affected by the introduction of the Riester scheme.
Number of Pages in PDF File: 50 Keywords: Household Saving, Saving Incentives, Retirement, Riester Scheme, Coarsened Exact Matching JEL Classification: D12, D14, H24, H31, I38 working papers seriesDate posted: April 19, 2010 ; Last revised: May 26, 2011Suggested CitationContact Information
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