全球智库信息集成服务系统(G2TT): Do the Rich Save More?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w7906
来源ID	Working Paper 7906
	Do the Rich Save More?
	Karen E. Dynan; Jonathan Skinner; Stephen P. Zeldes
发表日期	2000-09-01
出版年	2000
语种	英语
摘要	The issue of whether higher lifetime income households save a larger fraction of their income is an important factor in the evaluation of tax and macroeconomic policy. Despite an outpouring of research on this topic in the 1950s and 1960s, the question remains unresolved and has since received little attention. This paper revisits the issue, using new empirical methods and the Panel Study on Income Dynamics, the Survey of Consumer Finances, and the Consumer Expenditure Survey. We first consider the various ways in which life cycle models can be altered to generate differences in saving rates by income groups: differences in Social Security benefits, different time preference rates, non-homothetic preferences, bequest motives, uncertainty, and consumption floors. Using a variety of instruments for lifetime income, we find a strong positive relationship between personal saving rates and lifetime income. The data do not support theories relying on time preference rates, non-homothetic preferences, or variations in Social Security benefits. Instead, the evidence is consistent with models in which precautionary saving and bequest motives drive variations in saving rates across income groups. Finally, we illustrate how models that assume a constant rate of saving across income groups can yield erroneous predictions.
主题	Macroeconomics ; Consumption and Investment ; Microeconomics ; Households and Firms
URL	https://www.nber.org/papers/w7906
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/565491
推荐引用方式 GB/T 7714	Karen E. Dynan,Jonathan Skinner,Stephen P. Zeldes. Do the Rich Save More?. 2000.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w7906.pdf（495KB）	智库出版物		限制开放	CC BY-NC-SA	浏览