Format:
1 Online-Ressource (29 Seiten=1,35MB)
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Series Statement:
Discussion papers / Forschungszentrum Generationenverträge der Albert-Ludwigs-Universität Freiburg no. 64 (January 2017)
Content:
Traditionally, households have been seen as acting as a single unit when it comes to savings. Although this might be correct for some parts of household savings, we question the correctness of the unitary model with respect to non-mandatory retirement savings. Therefore we analyze the intra-household allocation of retirement savings between partners in Germany taking an individualistic approach.First, the decision to save at all is analyzed using a seemingly unrelated bivariate probit model, showing that the possession of retirement saving accounts among spouses is positively correlated, hinting at a "crowding-in" of saving accounts. However, this could be only due to some tax reasons. Thus, we analyze additionally the interaction of savings between spouses using three-stage least squares, allowing for endogeneity between the spouse's savings. These results additionally show a "crowding-in" of total retirement savings amounts between spouses, probably due to some "peer effect". The unitary model of household decision making can thus be rejected with respect to retirement savings.
Language:
English
Keywords:
Arbeitspapier
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Graue Literatur
Author information:
Metzger, Christoph
