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The Displacement Effect of Public Pensions on the Accumulation of Financial Assets (PDF)
University of Michigan Retirement Research Center [MRRC] 
Oct. 15, 2009 Excerpt: The generosity of public pensions may depress private savings and provide incentives to retire early. While there is plenty of evidence supporting the latter effect, there remains considerable controversy as whether or not public pensions crowd out private savings. This paper uses international micro-datasets collected over recent years to investigate whether public pensions displace private savings. [Working paper no. 2009-212] MORE >> |
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