Foredragsholder: Katja Mann, Copenhagen Business School
Dato: 30. november 2021
Når: 11:45 - 12:45
Hvor: Auditoriet, Akersveien 26
Katja Mann presenterer funn fra publikasjonen Pension Reform and its Effect on Wealth Inequality: Evidence from Denmark.
A growing literature explores reasons for rising wealth inequality, but surprisingly, downplays the role of pension systems despite their well-understood influence on life-cycle saving. In theory and according to available evidence, both pay-as-you-go (PAYG) and full funded (FF) pension schemes crowd out voluntary retirement saving; they differ because aggregate saving (wealth) decreases in the former but increases under the latter system. These effects may be most potent for low- and middle-income families. This paper employs unique Danish registry data for the entire population and studies the effect on wealth inequality among near-retirees of a transition of the Danish system from a mostly PAYG to a more FF system. Using a calibrated life-cycle model, we show that the transition reduced wealth inequality in Denmark, matching the data well.
Katja Mann is an Assistant Professor at Copenhagen Business School and a member of the Pension Research Centre (PeRCent) at CBS.
Her research centers around some of the biggest macroeconomic challenges of the 21st century: Automation technology and the future of work, demographic aging with its implications for pension systems and global capital flows, and inequality. Most of her recent work combines macro models with micro data.
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