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Analysis of Economic Behaviors of Government Employee Pension Subscriber's Household (공무원연금 납부 가구의 경제행태 분석)

  • Kim, Bo Min;Song, Heonjae
    • Journal of Labour Economics
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    • v.39 no.4
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    • pp.57-78
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    • 2016

  • This study analyzes economic behaviors of government employee pension subscriber's household by comparison to national pension subscriber's household. First, government employee pension subscriber's household income is higher than national pension subscriber's one. Second, household net assets of government employee pension subscriber are smaller than the ones of national pension subscriber. Government employee pension could crowd out private household savings, and a national pension subscriber's household inherited more than a government employee pension subscriber's. Third, a government employee pension subscriber's household is also likely to expend more than a national pension subscriber's household. Both summary statistics and fixed effects estimates give significant coefficients to government employee's dummy. Government employee pension subscriber's households do not need to save more because they expect to receive a stable retirement pension which gives relatively higher compensation. Thus, they are likely to consume more than national pension subscriber's households.

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