This paper develops a general equilibrium simulation model of a heterogeneous population in which both consumption/saving and labor/leisure choices are endogenous. The authors use it to explore the effects of the different state benefit systems on the labor supply of old and older workers in...

We develop the approach of Gokhale, Kotlikoff amp; Sabelhaus (1996), based on the lifecycle model of savings, to decompose the differences in the national saving rates between the UK, US and Italy. Our work suggests that the US saving rate is lower principally because Americans on average retire...