Tax Incentives and Household Investment in Complementary Pension Insurance: Some Recent Evidence From the Italian Experience |
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| Authors: | Immacolata Marino Filippo Pericoli Luigi Ventura |
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| Institution: | 1. Immacolata Marino is at the Dipartimento di Economia, University of Rome “La Sapienza,” Rome, Italy. Filippo Pericoli is at Italy's Ministry of Economy and Finance, Rome and University of Rome “Tor Vergata,” Rome Italy. Luigi Ventura is at the Dipartimento di Economia, University of Rome “La Sapienza,” Rome, Italy;2. e‐mail: luigi.ventura@uniroma1.it. |
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| Abstract: | We show by a simple difference‐in‐difference methodology that, contrary to prior research, robustly raising the deductibility limit associated to pension fund holdings in Italy did not succeed in boosting households’ contributions to this form of savings. Some other empirical findings also suggest that this policy measure may have not even increased the average amount of first‐time contributors to such funds. In view of the specific features of the Italian market for complementary insurance (relatively young and less developed), these empirical results might be of interest to policymakers acting in countries with similar features (for instance, some of the more recent EU members). |
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