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An Examination of Empirical Tests of Social Security and Savings

Auerbach, Alan J.; Kotlikoff, Laurence J. - 2021

The effect of social security and other forms of government debt on national savings is one of the most widely debated … policy questions in economics today. Some estimates suggest that social security has reduced U.S. savings by almost forty … percent. This paper examines recent cross-section and time series empirical tests of the social security-savings question and …

Persistent link: https://www.econbiz.de/10013221107

Intergenerational Transfers and Savings

Kotlikoff, Laurence J. - 2021

savings? Is it primarily accumulation for retirement as claimed by Albert Ando, Richard Brumberg, and Franco Modigliani in … their celebrated Life Cycle Model of Savings? Is it primarily intentional accumulation for intergenerational transfers? Or … is it primarily precautionary savings, much of which may be bequeathed because of imperfections in annuity markets? This …

Persistent link: https://www.econbiz.de/10013247420

Life-Cycle Saving, Limits on Contributions to Dc Pension Plans, and Lifetime Tax Benefits

Gokhale, Jagadeesh - 2010

limits bind those older middle-income households who started their pension savings programs late in life, those who plan to …

Persistent link: https://www.econbiz.de/10012763191

Comparing the Economic and Conventional Approaches to Financial Planning

Gokhale, Jagadeesh - 2010

The conventional approach to retirement and life insurance planning, which is used throughout the financial planning industry, differs markedly from the economic approach. The conventional approach asks households to specify how much they want to spend before retirement, after retirement, and in...

Persistent link: https://www.econbiz.de/10012763772

The Impact of Annuity Insurance on Savings and Inequality

Kotlikoff, Laurence J.; Shoven, John B.; Spivak, Avia - 2021

This is the first paper to document the effect of health on the migration propensities of African Americans in the American past. Using both IPUMS and the Colored Troops Sample of the Civil War Union Army Data, I estimate the effects of literacy and health on the migration propensities of...

Persistent link: https://www.econbiz.de/10013230210

Optimal Life-Cycle Investing with Flexible Labor Supply : A Welfare Analysis of Life-Cycle Funds

Gomes, Francisco - 2010

We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life-cycle model with flexible labor supply. Our framework allows for wage rate uncertainly, variable labor supply, social security benefits and portfolio choice over safe bonds and risky...

Persistent link: https://www.econbiz.de/10012759350

Demographics, Fiscal Policy, and U.S. Saving in the 1980s and Beyond

Auerbach, Alan J. - 2010

This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate that demographic change may significantly alter the U.S....

Persistent link: https://www.econbiz.de/10012760152

Does it Pay, at the Margin, to Work and Save? -- Measuring Effective Marginal Taxes on Americans' Labor Supply and Saving

Kotlikoff, Laurence J. - 2010

Building on Gokhale, Kotlikoff, and Sluchynsky's (2002) study of Americans' incentives to work full or part time, this paper uses ESPlanner, a life-cycle financial planning program, in conjunction with detailed modeling of transfer programs to determine a) total marginal net tax rates on current...

Persistent link: https://www.econbiz.de/10012760518

Why Aren't Developed Countries Saving?

Dobrescu, Loretti - 2009

National saving rates differ enormously across developed countries. But these differences obscure a common trend, namely a dramatic decline over time. France and Italy, for example, saved over 17 percent of national income in 1970, but less than 7 percent in 2006. Japan saved 30 percent in 1970,...

Persistent link: https://www.econbiz.de/10012765576

Will China Eat Our Lunch or Take Us Out to Dinner? Simulating the Transition Paths of the U.S., EU, Japan, and China

Fehr, Hans - 2009

This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period of rapid and significant aging requiring major fiscal...

Persistent link: https://www.econbiz.de/10012767513