The portfolio effect of pension reforms: Evidence from Italy

Journal of Pension Economics and Finance

Volumn 10, Issue 1, 2011, Pages 75-97

  Bottazzi, Renata ^a   Jappelli, Tullio ^b   Padula, Mario ^c  

^a UNIVERSITY OF BOLOGNA   (Italy)

^b UNIVERSITY OF NAPLES FEDERICO II   (Italy)

^c CA' FOSCARI UNIVERSITY OF VENICE   (Italy)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 79953015652     PISSN: 14747472     EISSN: 14753022     Source Type: Journal    
DOI: 10.1017/S147474721000003X     Document Type: Article

References (21)

1. Attanasio, Orazio P. and Brugiavini, Agar (2003) Social security and households saving. Quarterly Journal of Economics, 118: 1075-1119.
2. Attanasio, Orazio P. and Rohwedder, Susann (2003) Pension wealth and household saving: evidence from pension reforms in the United Kingdom. American Economic Review, 93: 1499-1521. (Pubitemid 38799546)
3. Bernheim, Douglas (2002) Taxation and saving. In Alan Auerbach and Martin Feldstein (eds.), Handbook of Public Economics. Volume 3, Amsterdam: North-Holland.
4. Bottazzi, Renata, Jappelli, Tullio, and Padula, Mario (2006) Retirement expectations, pension reforms, and their effect on private wealth accumulation. Journal of Public Economics, 90: 2167-2213.
5. Brugiavini, Agar (1999) Social security and retirement in Italy. In Jonathan Gruber and David Wise (eds.), Social Security and Retirement around the World. Chicago: The University of Chicago Press.
6. Cesari, Riccardo, Grandi, Giuseppe, and Panetta, Fabio (2008) Supplementary pension schemes in Italy: features, development and opportunities for workers. Giornale degli Economisti e Annali di Economia, 67: 21-73.
7. Cocco, João (2005) Portfolio choice in the presence of housing. The Review of Financial Studies, 18: 535-567.
8. Cocco, João, Gomes, Francisco J., and Maenhout, Pascal J. (2005) Consumption and portfolio choice over the life cycle. The Review of Financial Studies, 18: 491-533.
9. European Mortgage Federation (2006) Hypostat: A Review of Europe's Mortgage and Housing Market. Bruxelles: European Mortgage Federation.
10. Feldstein, Martin (1974) Social security, induced retirement and aggregate capital accumulation. Journal of Political Economy, 82: 357-374.
11. Feldstein, Martin and Pellechio, Anthony (1979) Social security and household accumulation: new microeconometric evidence. Review of Economics and Statistics, 61: 361-368.
12. Fornero, Elsa, Fugazza, Carolina, and Ponzetto, Giacomo (2004) A comparative analysis of the costs of Italian individual pension plans. CeRP Working Paper 33, Center for Research on Pensions and Welfare Policies, Turin (Italy).
13. Gale, William G. (1998) The effect of pension wealth on household wealth: a reevaluation of theory and evidence. Journal of Political Economy, 106: 706-723. (Pubitemid 28478670)
14. Guazzarotti, Giovanni and Tommasino, Pietro (2008) The annuity market in an evolving pension system: lessons from Italy. CeRP Working Paper No. 77/08.
15. Guiso, Luigi, Haliassos, Michalis, and Jappelli, Tullio (2003) Household Portfolios. Cambridge, MA: MIT Press.
16. Jappelli, Tullio and Pistaferri, Luigi (2003) Tax incentives and the demand for life insurance: evidence from Italy. Journal of Public Economics, 87: 1779-1799. (Pubitemid 36910185)
17. Merton, Robert C. (1969) Lifetime portfolio selection under uncertainty: the continuous-time case. Review of Economics and Statistics, 51: 247-257.
18. Merton, Robert C. (1971) Optimum consumption and portfolio rules in a continuous-time model. Journal of Economic Theory, 3: 373-413.
19. Samuelson, Paul A. (1969) Lifetime portfolio selection by dynamic stochastic programming. Review of Economics and Statistics, 51 : 239-246.
20. Sinai, Todd and Souleles, Nicholas (2005) Owner-occupied housing as insurance against rent risk. Quarterly Journal of Economics, 120: 763-789. (Pubitemid 40801685)
21. Sinai, Todd and Souleles, Nicholas (2008) Net worth and housing equity in retirement. In John Ameriks and Olivia Mitchell (eds.), Recalibrating Retirement Spending and Saving. Oxford: Oxford University Press.