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 InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0355.
Date of creation: May 1979
Date of revision:
Publication status: published as Martin Feldstein. "International differences in social security and saving," in Anthony Atkinson and David F. Bradford, organizers, "Econometric Studies in Public Finance" Journal of Public Economics, Vol. 14, no. 2 (Elsevier Sequoia S. A.) (1980)
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Other versions of this item:
- Feldstein, Martin, 1980. "International differences in social security and saving," Journal of Public Economics, Elsevier, vol. 14(2), pages 225-244, October.
- 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.
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