Abstract:We examine the heterogeneous and dynamic impact of China's New Rural Pension Scheme on intergenerational wealth dependence using a nationally representative longitudinal household survey covering the period 2011-13. We adopt an instrumental quantile regressiondiscontinuity design to address the endogeneity of partial compliance of the pension scheme and the observed individual heterogeneity. Overall, we find that the pension scheme smooths wealth dependence between generations in the short term, but strengthen… Show more
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