Pension reform, savings behavior and capital market performance


Börsch-Supan, Axel ; Köke, F. Jens ; Winter, Joachim


[img]
Preview
PDF
mea_disk_53_04.pdf - Published

Download (532kB)

URL: http://ub-madoc.bib.uni-mannheim.de/898
URN: urn:nbn:de:bsz:180-madoc-8984
Document Type: Working paper
Year of publication: 2004
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): Kapitalmarkt , Rentenreform , Kontinentaleuropa
Abstract: This paper shows that the capital market effects of population aging and pension reform are particularly strong in continental European economies such as France, Germany, and Italy. Reasons are threefold: these countries have large and ailing pay-as-you-go public pension systems, relatively thin capital markets and less than benchmark capital performance. The aging process will force the younger generations in these countries to provide more retirement income through own private saving. Capital markets will therefore grow in size and active institutional investors will become more important as intermediaries. Aim of this paper is to show that these changes are likely to generate beneficial side effects in terms of improved productivity and aggregate growth.
Additional information:

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




+ Citation Example and Export

Börsch-Supan, Axel ; Köke, F. Jens ; Winter, Joachim (2004) Pension reform, savings behavior and capital market performance. Open Access [Working paper]
[img]
Preview


+ Search Authors in

+ Download Statistics

Downloads per month over past year

View more statistics



You have found an error? Please let us know about your desired correction here: E-Mail


Actions (login required)

Show item Show item