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Thrifty Pensioners: Pensions and Savings in France at the Turn of the Twentieth Century

Author

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  • Jérôme Bourdieu

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

  • Lionel Kesztenbaum

    (INED - Institut national d'études démographiques)

  • Gilles Postel-Vinay

    (PSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract
Building on a large sample of elderly French individuals, we evaluate the resources that were available to the old. We find that a considerable percentage of the French population did not have sufficient assets to live off of when aged. We compare the savings behaviors of pensioners and non-pensioners at a time when only a small part of the labor force was entitled to a pension. We show that pensioners were better able to accumulate wealth than were non-pensioners, even when we take into account their occupation and inherited wealth.

Suggested Citation

  • Jérôme Bourdieu & Lionel Kesztenbaum & Gilles Postel-Vinay, 2011. "Thrifty Pensioners: Pensions and Savings in France at the Turn of the Twentieth Century," PSE-Ecole d'économie de Paris (Postprint) halshs-00754536, HAL.
    • Handle: RePEc:hal:pseptp:halshs-00754536
    DOI: 10.1017/S0022050711001574
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    Cited by:

    1. Jérôme Bourdieu & Lionel Kesztenbaum & Gilles Postel‐Vinay & Akiko Suwa‐Eisenmann, 2019. "Intergenerational Wealth Mobility in France, 19th and 20th Century," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 65(1), pages 21-47, March.

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