Do Government Benefits for High Income Retirees Encourage Saving?
AbstractThe Australian government provides benefits to high income older people, which are intended to induce saving for retirement. It has not been established whether this unusual policy is effective. Using an illustrative two-period model, it is shown that these benefits may induce some people to save and work more, but they may have the opposite effect on other, more affluent, people. The magnitude and direction of the net effect on private saving remains an open empirical question. The policy may have increased Commonwealth government expenditure on relatively affluent older people and reduced state government expenditure on people with slightly less resources.
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Bibliographic InfoArticle provided by Bankwest Curtin Economics Centre (BCEC), Curtin Business School in its journal Australian Journal of Labour Economics (AJLE).
Volume (Year): 12 (2009)
Issue (Month): 3 ()
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Postal: GPO Box U1987, Perth WA 6845
Web page: http://business.curtin.edu.au/research/publications/journals/ajle/
More information through EDIRC
Intertemporal Consumer Choice; Life Cycle Models and Saving Fiscal Policies and Behavior of Economic Agents: Household;
Other versions of this item:
- Siminski, Peter, 2008. "Do Government Benefits for High Income Retirees Encourage Saving?," Economics Working Papers wp08-15, School of Economics, University of Wollongong, NSW, Australia.
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
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