The Effects of Schooling on Wealth Accumulation Approaching Retirement

Forskningsoutput: Working paper

Abstract

Education and wealth are positively correlated for individuals approaching retirement, but the direction of the causal relationship is ambiguous in theory and has not been identified in practice. We combine administrative data on individual total wealth with a reform expanding access to lower secondary school in Denmark in the 1950s, finding that schooling increases pension annuity claims but reduces the non-pension wealth of men in their 50's. These effects grow stronger as normal retirement age approaches. Labour market mechanisms are key, with schooling increasing job mobility, reducing housing equity, increasing leverage, and improving occupational pension benefits.

Detaljer

Författare
Enheter & grupper
Externa organisationer
  • SFI - The Danish Centre for Social Research
Forskningsområden

Ämnesklassifikation (UKÄ) – OBLIGATORISK

  • Nationalekonomi

Nyckelord

Originalspråkengelska
UtgivningsortLund
FörlagDepartment of Economics, Lund Universtiy
Antal sidor33
StatusPublished - 2017 jun 12

Publikationsserier

NamnWorking Papers
FörlagDepartment of Economics, Lund Unversity
Nr.9
Volym2017