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来源类型Working Paper
规范类型报告
DOI10.3386/w23506
来源IDWorking Paper 23506
Social Security and Saving: An Update
Sita Slavov; Devon Gorry; Aspen Gorry; Frank N. Caliendo
发表日期2017-06-12
出版年2017
语种英语
摘要Typical neoclassical life-cycle models predict that Social Security has a large and negative effect on private savings. We review this theoretical literature by constructing a model where individuals face uninsurable longevity risk and differ by wage earnings, while Social Security provides benefits as a life annuity with higher replacement rates for the poor. We use the model to generate numerical examples that confirm the standard result. Using several benefit and tax changes from the 1970s and 1980s as natural experiments, we investigate the empirical relationship between Social Security and private savings and find little to support the strong predictions from the theoretical model. We explore possible reasons for the divergence between theoretical predictions and empirical findings.
主题Microeconomics ; Households and Firms ; Public Economics ; Taxation ; National Fiscal Issues
URLhttps://www.nber.org/papers/w23506
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/581179
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GB/T 7714
Sita Slavov,Devon Gorry,Aspen Gorry,et al. Social Security and Saving: An Update. 2017.
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