What Do We Learn About Redistribution Effects of Pension Systems from Internationally Comparable Measures of Social Security Wealth?

50 Pages Posted: 31 Aug 2017

See all articles by Michele Belloni

Michele Belloni

University of Turin; Center for Research on Pensions and Welfare Policies (CeRP); Netspar

Agar Brugiavini

Ca Foscari University of Venice - Dipartimento di Economia

Raluca Buia

Ca Foscari University of Venice

Ludovico Carrino

King's College London; Ca Foscari University of Venice - Dipartimento di Economia

Danilo Cavapozzi

Ca Foscari University of Venice - Dipartimento di Economia

Cristina Orso

Ca Foscari University of Venice - Dipartimento di Economia

Giacomo Pasini

Ca' Foscari University of Venice; Netspar

Date Written: July 25, 2017

Abstract

We present novel estimates of Social Security Wealth (SSW) at the individual level based on the SHARE survey. Our estimates are based on a rigorous methodology taking into account country-specific legislations, the earnings history and the longevity prospects of individuals. The key advantage over existing estimates is that our measures of SSW is fully comparable across countries. This allows us to construct several indexes of the redistribution enacted by the pension systems in Europe. Moreover, simple correlations between SSW and alternative measures of private wealth are presented to provide descriptive evidence of the displacement effect of SSW on private wealth.

Keywords: Social Security Wealth, SHARE, redistribution

JEL Classification: D14, D31, H55

Suggested Citation

Belloni, Michele and Brugiavini, Agar and Buia, Raluca and Carrino, Ludovico and Cavapozzi, Danilo and Orso, Cristina and Pasini, Giacomo, What Do We Learn About Redistribution Effects of Pension Systems from Internationally Comparable Measures of Social Security Wealth? (July 25, 2017). University Ca' Foscari of Venice, Dept. of Economics Research Paper Series No. 14/WP/2017, Available at SSRN: https://ssrn.com/abstract=3029138 or http://dx.doi.org/10.2139/ssrn.3029138

Michele Belloni (Contact Author)

University of Turin ( email )

Lungo Dora Siena 100
Torino, 10153
Italy

Center for Research on Pensions and Welfare Policies (CeRP) ( email )

Via Real Collegio, 30
Moncalieri, Turin 10024
Italy

Netspar

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Agar Brugiavini

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy

Raluca Buia

Ca Foscari University of Venice ( email )

Dorsoduro 3246
Venice, Veneto 30123
Italy

Ludovico Carrino

King's College London ( email )

Room D11, East Wing
Strand Campus
London, WC2R 2LS
United Kingdom

HOME PAGE: http://https://kclpure.kcl.ac.uk/portal/ludovico.carrino.html

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy

Danilo Cavapozzi

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy

Cristina Orso

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy

Giacomo Pasini

Ca' Foscari University of Venice ( email )

Cannaregio 873
Venice, 30121
Italy
+39 041 234 9171 (Phone)
+39 041 2349176 (Fax)

HOME PAGE: http://https://sites.google.com/unive.it/pasini

Netspar ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

HOME PAGE: http://www.netspar.nl/people/researchfellows/pasini/

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