Public Pension Reforms and Private Savings
نویسنده
چکیده
The 1999 reforms to the Korea National Pension Scheme resulted in a unique situation, in which those who were insured by the pension scheme and those who were uninsured coexisted. Exploiting this situation, this paper evaluates the effect of public pension on private savings. The estimation results show that the average effect is close to zero. Households with low or very high saving rates were barely affected, while households with saving rates around the mean had their savings reduced by about 25 percent. JEL Classification: H55, C14, D10.
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