International differences in social security and saving
AbstractThe U.S. Social Security Administration, in cooperation with similar agencies in other countries, recently developed estimates of social security benefits for twelve major industrial countries. The present paper uses these data to estimate the effects of social security benefits on saving and retirement in an extended life cycle model. The parameter estimates indicate that, with retirement behavior given, social security significantly reduces private saving: an increase of the benefit-to-earnings ratio by 10 percentage points reduces the saving rate by approximately 3 percentage points.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Public Economics.
Volume (Year): 14 (1980)
Issue (Month): 2 (October)
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Web page: http://www.elsevier.com/locate/inca/505578
Other versions of this item:
- Martin Feldstein, 1980. "International differences in social security and saving," NBER Chapters, in: Econometric Studies in Public Finance, pages 225-244 National Bureau of Economic Research, Inc.
- Martin Feldstein, 1979. "International Differences in Social Security and Saving," NBER Working Papers 0355, National Bureau of Economic Research, Inc.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Martin Feldstein, 1980.
"Do Private Pensions Increase National Saving?,"
NBER Working Papers
0186, National Bureau of Economic Research, Inc.
- Martin Feldstein & Charles Horioka, 1979.
"Domestic Savings and International Capital Flows,"
NBER Working Papers
0310, National Bureau of Economic Research, Inc.
- Barro, Robert J. & MacDonald, Glenn M., 1979. "Social security and consumer spending in an international cross section," Journal of Public Economics, Elsevier, vol. 11(3), pages 275-289, June.
- Boskin, Michael J, 1977. "Social Security and Retirement Decisions," Economic Inquiry, Western Economic Association International, vol. 15(1), pages 1-25, January.
- Martin Feldstein, 1979. "The Effect of Social Security on Saving," NBER Working Papers 0334, National Bureau of Economic Research, Inc.
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