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Trends in household saving don't justify tax incentives to boost saving

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Author Info

  • Orazio Attanasio
  • James Banks

Abstract

"Despite diverse trends in household saving in OECD countries, many governments are introducing tax incentives designed to boost saving by particular groups. Such schemes have been justified by many trends, including increasing income inequality, ageing populations, and greater cross-border competition. It is dangerous, however, to base policy on what is happening to aggregate household saving alone. First, personal saving should be viewed within a lifecycle context. Saving may look inadequate today, but households may already have made plans to redress this in future. Second, data on aggregate saving conceal significant differences between different household groups. Only disaggregation yields reliable inferences on which policy can be based. In particular, it is impossible to assess the consequences of demographic changes without analysis that distinguishes between different generations." Copyright Centre for Economic Policy Research, Centre for Economic Studies, Maison des Sciences de l'Homme 1997.

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Bibliographic Info

Article provided by CEPR & CES & MSH in its journal Economic Policy.

Volume (Year): 13 (1998)
Issue (Month): 27 (October)
Pages: 547-583

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Handle: RePEc:bla:ecpoli:v:13:y:1998:i:27:p:547-583

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Cited by:
  1. Thomas Klose, 2003. "A utility-theoretic model for QALYs and willingness to pay," Health Economics, John Wiley & Sons, Ltd., vol. 12(1), pages 17-31.
  2. repec:pdn:ciepap:81 is not listed on IDEAS
  3. World Bank, 2011. "Turkey - Country Economic Memorandum (CEM) : Sustaining High Growth - The Role of Domestic savings : Synthesis Report," World Bank Other Operational Studies 12264, The World Bank.
  4. M. Baldini & C. Mazzaferro, 2000. "Transizione demografica e formazione del risparmio delle famiglie italiane," Working Papers 366, Dipartimento Scienze Economiche, Universita' di Bologna.
  5. David Demery & Nigel Duck, 2006. "Savings–age profiles in the UK," Journal of Population Economics, Springer, vol. 19(3), pages 521-541, July.
  6. Rod Tyers & Qun Shi, 2006. "Global Demographic Change, Labour Force Growth and Economic Performance," ANU Working Papers in Economics and Econometrics 2006-462, Australian National University, College of Business and Economics, School of Economics.

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