Savings : the policy debate in Europe


Börsch-Supan, Axel ; Brugiavini, Agar


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URL: http://ub-madoc.bib.uni-mannheim.de/311
URN: urn:nbn:de:bsz:180-madoc-3112
Document Type: Working paper
Year of publication: 2002
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Veröffentlichungen des MEA (Mannheim Research Institute For the Economics of Aging) > MEA Discussion Papers
Subject: 330 Economics
Subject headings (SWD): Sparverhalten
Abstract: Thre 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? Do we need to subsidise saving more or less than we currently do? The paper reviews economic theory and empirical evidence on these intertwinded issues. most importantly, it identifies many gaps in our theoretical and empirical knowledge that caution us against overly strong policy recommendations.
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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Börsch-Supan, Axel ; Brugiavini, Agar (2002) Savings : the policy debate in Europe. Open Access [Working paper]
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