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What do we learn about redistribution effects of pension systems from internationally comparable measures of Social Security wealth?

Published online by Cambridge University Press:  23 April 2019

Michele Belloni
Affiliation:
Ca’ Foscari University of Venice, Venice, Italy
Agar Brugiavini
Affiliation:
Ca’ Foscari University of Venice, Venice, Italy
Raluca E. Buia
Affiliation:
Ca’ Foscari University of Venice, Venice, Italy
Ludovico Carrino
Affiliation:
King's College London, London, UK
Danilo Cavapozzi*
Affiliation:
Ca’ Foscari University of Venice, Venice, Italy
Cristina E. Orso
Affiliation:
Ca’ Foscari University of Venice, Venice, Italy
Giacomo Pasini
Affiliation:
Ca’ Foscari University of Venice, Venice, Italy
*
*Corresponding author. Email: danilo.cavapozzi@unive.it

Abstract

We present novel estimates of Social Security Wealth (SSW) at the individual level based on the SHARE survey. Our estimates are based on a rigorous methodology taking into account country-specific legislations, the earning history and the longevity prospects of individuals. The key advantage over existing estimates is that our measures of SSW are fully comparable across countries. This allows us to construct indexes of the redistribution enacted by the pension systems in Europe. Finally, we provide descriptive evidence of the relationship between SSW and private wealth.

Type
Article
Copyright
Copyright © Cambridge University Press 2019

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