Arbeitspapier
Is social security behind the collapse of personal saving?
This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to blame. Specifically, the model predicts that a 50-percent increase in the social security tax rate (as in the U.S. over the last half century) produces a modest decline in the personal saving rate from 10 percent down to 9.6 percent. This result runs counter to some popular opinion.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2746
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Social Security and Public Pensions
- Thema
-
NIPA personal saving rate
social security
life-cycle permanent-income model
general equilibrium calibration
Sozialversicherungsbeitrag
Sparen
Einkommenshypothese
Allgemeines Gleichgewicht
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Caliendo, Frank N.
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Caliendo, Frank N.
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2009
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