This paper examines the effects on saving of a continuous increase in lifetime and shows that a greater increase in lifetime leads to greater savings. This is because an increase in lifetime is accompanied by uncertainty and because the working-age cohort whose lifetime is longer saves more than the retired cohort dissaves. This result is tested empirically with cross-country data, and it is confirmed that an increase in life expectancy has a positive effect on various saving rates. Copyright 2003 by the International Association for Research in Income and Wealth.
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