Affiliation:
1. Collegium of World Economy, SGH Warsaw School of Economics, Warszawa, Poland
Abstract
<p><big>In this paper, we review the research on the substitution between social security wealth and private wealth. Our review includes over 100 theoretical and empirical contributions. Nearly 70% of the literature identifies the statistically significant impact of social security wealth on different forms of private savings. A strong majority of authors, who obtain statistically significant results find the negative impact of social security on private savings. We discuss the main limitations of the literature.</big></p>