Crowd-Out, Education, and Employer Contributions to Workplace Pensions: Evidence from Canadian Tax Records
利用加拿大行政数据，研究发现工作场所养老金每增加1美元缴款，会挤出约0.50美元的其他退休储蓄，且教育水平影响主动与被动储蓄决策，对政策制定者和研究者有参考价值。
This study assesses whether workplace pensions help individuals overcome knowledge barriers to saving for retirement. Using administrative data from Canada and exploiting unique features of the pension system, I find compelling evidence that each $1 contributed to workplace pensions partially crowds out other retirement saving by approximately $0.50—among interior savers—in a regression kink design, centering on unionized workers for methodological reasons. Further analysis indicates that active versus passive decisions are influenced by education, exploiting compulsory schooling reforms for identification. I conclude by showing that pension and education reform are both viable mechanisms for boosting saving from a life cycle perspective.