登入選單
返回Google圖書搜尋
其他書名
Cross-country Heterogeneity in Europe
出版European Central Bank, 2020
ISBN92899401589789289940153
URLhttp://books.google.com.hk/books?id=IFi2zQEACAAJ&hl=&source=gbs_api
註釋We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD). First, we find significant displacement effects of mandatory pension wealth on non-pension financial wealth at the mean, and a statistically significant crowd-out estimate on the probability of owning real estate property. Second, there is heterogeneity in the mean savings offset depending on age, risk attitudes and country. Third, the offset follows different patterns along the non-pension wealth distribution across countries.