The determinants of savings rates in OECD countries: The role of private pensions

GEBEŞOĞLU, Pınar Fulya; ERTUĞRUL, Hasan Murat; Bulut, Ümit

The determinants of savings rates in OECD countries: The role of private pensions

Pınar Fulya GEBEŞOĞLU, (Anadolu Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Türkiye)

Hasan Murat ERTUĞRUL, (Anadolu Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Türkiye)

Ümit BULUT (Kırşehir Ahi Evran Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Türkiye)

Central Bank Review

6 1

Yıl: 2023 Cilt: 23 Sayı: 1 Sayfa Aralığı: 28 - 34 Metin Dili: İngilizce İndeks Tarihi: 22-07-2023

The determinants of savings rates in OECD countries: The role of private pensions

Öz:

The design of pension schemes is crucial in determining savings behavior. The impact of pension schemes on saving rates across countries remains to be an intriguing empirical question considering the complicated nature of the relationship between saving patterns and pension wealth. This paper in- vestigates the effect of the private pension contributions on savings rates in 25 selected OECD countries between the period 2001e2019 by employing quantile regression analysis which takes the heterogeneity of the data into account and provides information about not only the midpoint but also the extreme points of the distribution. According to the results, the savings rate is negatively associated with private pensions at all quantile levels. The empirical findings indicate that pension contributions tend to be strong substitutes for voluntary savings in countries with low tendencies to save. This result is especially important for its policy design implications as the policy makers tend to provide incentives either in the form of tax reliefs or direct substitutions for private pension contributions with the motivation to raise domestic savings.

Anahtar Kelime:

Belge Türü: Makale Makale Türü: Derleme Erişim Türü: Erişime Açık

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APA	GEBEŞOĞLU P, ERTUĞRUL H, Bulut Ü (2023). The determinants of savings rates in OECD countries: The role of private pensions. , 28 - 34.
Chicago	GEBEŞOĞLU Pınar Fulya,ERTUĞRUL Hasan Murat,Bulut Ümit The determinants of savings rates in OECD countries: The role of private pensions. (2023): 28 - 34.
MLA	GEBEŞOĞLU Pınar Fulya,ERTUĞRUL Hasan Murat,Bulut Ümit The determinants of savings rates in OECD countries: The role of private pensions. , 2023, ss.28 - 34.
AMA	GEBEŞOĞLU P,ERTUĞRUL H,Bulut Ü The determinants of savings rates in OECD countries: The role of private pensions. . 2023; 28 - 34.
Vancouver	GEBEŞOĞLU P,ERTUĞRUL H,Bulut Ü The determinants of savings rates in OECD countries: The role of private pensions. . 2023; 28 - 34.
IEEE	GEBEŞOĞLU P,ERTUĞRUL H,Bulut Ü "The determinants of savings rates in OECD countries: The role of private pensions." , ss.28 - 34, 2023.
ISNAD	GEBEŞOĞLU, Pınar Fulya vd. "The determinants of savings rates in OECD countries: The role of private pensions". (2023), 28-34.

APA	GEBEŞOĞLU P, ERTUĞRUL H, Bulut Ü (2023). The determinants of savings rates in OECD countries: The role of private pensions. Central Bank Review, 23(1), 28 - 34.
Chicago	GEBEŞOĞLU Pınar Fulya,ERTUĞRUL Hasan Murat,Bulut Ümit The determinants of savings rates in OECD countries: The role of private pensions. Central Bank Review 23, no.1 (2023): 28 - 34.
MLA	GEBEŞOĞLU Pınar Fulya,ERTUĞRUL Hasan Murat,Bulut Ümit The determinants of savings rates in OECD countries: The role of private pensions. Central Bank Review, vol.23, no.1, 2023, ss.28 - 34.
AMA	GEBEŞOĞLU P,ERTUĞRUL H,Bulut Ü The determinants of savings rates in OECD countries: The role of private pensions. Central Bank Review. 2023; 23(1): 28 - 34.
Vancouver	GEBEŞOĞLU P,ERTUĞRUL H,Bulut Ü The determinants of savings rates in OECD countries: The role of private pensions. Central Bank Review. 2023; 23(1): 28 - 34.
IEEE	GEBEŞOĞLU P,ERTUĞRUL H,Bulut Ü "The determinants of savings rates in OECD countries: The role of private pensions." Central Bank Review, 23, ss.28 - 34, 2023.
ISNAD	GEBEŞOĞLU, Pınar Fulya vd. "The determinants of savings rates in OECD countries: The role of private pensions". Central Bank Review 23/1 (2023), 28-34.