Life cycle analysis of savings accounts with matching contributions

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dc.authorid0000-0002-5214-2583
dc.authorscopusid57210194631
dc.authorwosidEVM-0550-2022
dc.authorwosidGXQ-1464-2022
dc.authorwosidGBC-3743-2022
dc.contributor.authorGenç İleri, Şerife
dc.contributor.authorEren, Okan
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.date.accessioned2022-09-28T13:30:48Z
dc.date.available2022-09-28T13:30:48Z
dc.date.issued2022
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İktisat Bölümü
dc.description.abstractIn this study, we examined the macroeconomic effects and welfare implications of the new voluntary saving accounts enacted in Turkey. The most salient features of these accounts include tax advantages, government matching contributions, and the fees levied on returns and contributions. Using an overlapping generations model, we demonstrated that the new saving accounts with no fees eventually raise the capital stock by 29.7% and the net saving rate by 0.50 percentage points. Our long-run analysis yielded two other noteworthy results. First, matching contributions generate stronger saving incentives than the tax advantages. Second, the fees implemented on these accounts curtail higher contributions and hence should be eliminated. The transition analysis revealed that the low- and medium-income young individuals benefit the most during the implementation phase of the plan. In contrast, the old-age high-income group incurred a loss. Hence, a government, with long-run commitment to the current system, can achieve a substantial increase in the capital stock and promote the well-being of the least advantaged group, that is, young and low-income individuals in the economy.
dc.identifier.citationEren, O. ve Genç İleri, Ş. (2022). Life cycle analysis of savings accounts with matching contributions. Economic Modelling, 116, 106028.
dc.identifier.doi10.1016/j.econmod.2022.106028
dc.identifier.endpage18
dc.identifier.issn0264-9993
dc.identifier.issueNovember
dc.identifier.scopus2-s2.0-85138014792
dc.identifier.scopusqualityQ1
dc.identifier.startpage1
dc.identifier.urihttps://doi.org/10.1016/j.econmod.2022.106028
dc.identifier.urihttps://hdl.handle.net/20.500.12154/1893
dc.identifier.volume116
dc.identifier.wosWOS:000864647500002
dc.identifier.wosqualityQ1
dc.indekslendigikaynakScopus
dc.indekslendigikaynakWeb of Science
dc.institutionauthorGenç İleri, Şerife
dc.institutionauthorid0000-0002-5214-2583
dc.language.isoen
dc.publisherElsevier B.V.
dc.relation.ihupublicationcategory118
dc.relation.ispartofEconomic Modelling
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectFiscal Policy
dc.subjectHousehold Saving
dc.subjectIndividual Retirement Accounts
dc.subjectMatching Contributions
dc.subjectSaving Incentives
dc.titleLife cycle analysis of savings accounts with matching contributions
dc.typeArticle
dspace.entity.typePublication
relation.isOrgUnitOfPublication9d1809d1-3541-41aa-94ed-639736b7e16f
relation.isOrgUnitOfPublication.latestForDiscovery9d1809d1-3541-41aa-94ed-639736b7e16f

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