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L’ipotesi del ciclo vitale, la politica fiscale e la previdenza sociale

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  • Tullio Jappelli

    (Università degli Studi di Salerno, Dipartimento di Scienze Economiche e Statistiche, Fisciano (Salerno))

Abstract

The paper summarizes the main implications of the life cycle hypothesis regarding the individual and aggregate saving, fiscal policy and social security, focusing on the most important contributions of Modigliani on these issues. Although it is not easy to reconcile some recent empirical results with the hypothesis of the life cycle, especially the aspects of inertia, myopia and irrational behavior documented in the literature behavioral, the studies of Modigliani still represent the basis of reference for the study of individual savings decisions and to make policy choices.

Suggested Citation

  • Tullio Jappelli, 2005. "L’ipotesi del ciclo vitale, la politica fiscale e la previdenza sociale," Moneta e Credito, Economia civile, vol. 58(230-231), pages 187-202.
    • Handle: RePEc:psl:moneta:2005:210
    as

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    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9737/9623
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    References listed on IDEAS

    as
    1. Feldstein, Martin S, 1976. "Social Security and Saving: The Extended Life Cycle Theory," American Economic Review, American Economic Association, vol. 66(2), pages 77-86, May.
    2. David A. Wise, 1994. "Studies in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise94-1, July.
    3. Kotlikoff, Laurence J & Summers, Lawrence H, 1981. "The Role of Intergenerational Transfers in Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 706-732, August.
    4. Modigliani, Franco, 1988. "The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 15-40, Spring.
    5. Modigliani, Franco & Sterling, Arlie, 1986. "Government Debt, Government Spending and Private Sector Behavior: Comment," American Economic Review, American Economic Association, vol. 76(5), pages 1168-1179, December.
    6. Dreze, Jacques H. & Modigliani, Franco, 1972. "Consumption decisions under uncertainty," Journal of Economic Theory, Elsevier, vol. 5(3), pages 308-335, December.
    7. Deaton, Angus, 1992. "Understanding Consumption," OUP Catalogue, Oxford University Press, number 9780198288244.
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    More about this item

    Keywords

    ciclo vitale; risparmio; modigliani; politica economica;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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