Distributional effects of subsidizing retirement savings accounts : evidence from Germany Giacomo Corneo, Johannes König and Carsten Schröder
By: Corneo, Giacomo G
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Contributor(s): König, Johannes | Schröder, Carsten.
Material type: 
ArticlePublisher: 2018Subject(s): PLANES DE PENSIONES | FONDOS DE PENSIONES | PENSIONES DE JUBILACIÓN | RENTA | DISTRIBUCION | ALEMANIAOnline resources: Click here to access online
In:
FinanzArchiv v. 74, n. 4, December 2018, p. 415-445Summary: We empirically investigate the distributional consequences of the Riester scheme, the main private pension subsidization program in Germany. We find that 38%of the aggregate subsidy accrues to the top two deciles of the income distribution, but only 7.3% to
the bottom two. Nonetheless the Riester scheme is almost distributionally neutral in terms of standard inequality measures. Two effects offset each other: a progressive one stemming from the subsidy schedule and a regressive one due to voluntary participation. Participation is associated not only with high income but also with high household wealth.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 207/2018/4-1 (Browse shelf) | Available | OP 207/2018/4-1 |
Disponible también en formato electrónico a través de la Biblioteca del IEF.
Resumen.
We empirically investigate the distributional consequences of the Riester scheme, the main private pension subsidization program in Germany. We find that 38%of the aggregate subsidy accrues to the top two deciles of the income distribution, but only 7.3% to
the bottom two. Nonetheless the Riester scheme is almost distributionally neutral in terms of standard inequality measures. Two effects offset each other: a progressive one stemming from the subsidy schedule and a regressive one due to voluntary participation. Participation is associated not only with high income but also with high household wealth.
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