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The Effects of Special Saving Programs on Saving and Wealth

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  • James M. Poterba
  • Steven F. Venti
  • David A. Wise

Abstract

Individual saving through targeted retirement saving accountsþIRAs and 401(k)sþgrew rapidly in the United States during the 1980s. The microeconomic evidence presented in this paper suggests that most of the contributions to these programs represent new saving that would not otherwise have occurred. The micro evidence is compared with macro saving measured by National Income and Product Accounts and Flow of Funds data.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5287.

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Date of creation: Oct 1995
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Publication status: published as Poterba, James M., Steven F. Venti and David A. Wise. "How Retirement Saving Programs Increase Saving," Journal of Economic Perspectives, 1996, v10(4,Fall), 91-112.
Handle: RePEc:nbr:nberwo:5287

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  1. Venti, Steven F & Wise, David A, 1990. "Have IRAs Increased U.S. Saving? Evidence from Consumer Expenditure Surveys," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 105(3), pages 661-98, August.
  2. B. Douglas Bernheim & John B. Shoven, 1985. "Pension Funding and Saving," NBER Working Papers 1622, National Bureau of Economic Research, Inc.
  3. Robert E. Lipsey & Helen Stone Tice, 1989. "The Measurement of Saving, Investment, and Wealth," NBER Books, National Bureau of Economic Research, Inc, number lips89-1, October.
  4. Venti, Steven F & Wise, David A, 1986. "Tax-Deferred Accounts, Constrained Choice and Estimation of Individual Saving," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 53(4), pages 579-601, August.
  5. Leslie E. Papke, 1992. "Participation in and Contributions to 401(k) Pension Plans: Evidence om Plan Data," NBER Working Papers 4199, National Bureau of Economic Research, Inc.
  6. Steven F. Venti & David A. Wise, 1991. "The Saving Effect of Tax-deferred Retirement Accounts: Evidence from SIPP," NBER Chapters, in: National Saving and Economic Performance, pages 103-130 National Bureau of Economic Research, Inc.
  7. Steven F. Venti & David A. Wise, 1992. "Government Policy and Personal Retirement Saving," NBER Chapters, in: Tax Policy and the Economy, Volume 6, pages 1-42 National Bureau of Economic Research, Inc.
  8. B. Douglas Bernheim & John B. Shoven, 1991. "National Saving and Economic Performance," NBER Books, National Bureau of Economic Research, Inc, number bern91-2, October.
  9. Poterba, James M. & Venti, Steven F. & Wise, David A., 1995. "Do 401(k) contributions crowd out other personal saving?," Journal of Public Economics, Elsevier, Elsevier, vol. 58(1), pages 1-32, September.
  10. Steven F. Venti & David A. Wise, 1986. "IRAs and Saving," NBER Working Papers 1879, National Bureau of Economic Research, Inc.
    • Steven F. Venti & David A. Wise, 1987. "IRAs and Saving," NBER Chapters, in: The Effects of Taxation on Capital Accumulation, pages 7-52 National Bureau of Economic Research, Inc.
  11. Zvi Bodie & John B. Shoven & David A. Wise, 1988. "Pensions in the U.S. Economy," NBER Books, National Bureau of Economic Research, Inc, number bodi88-1, October.
  12. Shefrin, Hersh M & Thaler, Richard H, 1988. "The Behavioral Life-Cycle Hypothesis," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 26(4), pages 609-43, October.
  13. Lawrence Summers & Chris Carroll, 1987. "Why Is U.S. National Saving So Low?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 607-642.
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Cited by:
  1. Steven F. Venti & David A. Wise, 1996. "The Wealth of Cohorts: Retirement Saving and the Changing Assets of Older Americans," NBER Working Papers 5609, National Bureau of Economic Research, Inc.
  2. Sylvester J. Schieber, 2010. "Aging Populations, Pension Operations, Potential Economic Disappointment and Its Allocation," NBER Chapters, in: Demography and the Economy, pages 293-325 National Bureau of Economic Research, Inc.
  3. Gaobo Pang & University of Maryland, 2006. "Tax-Deferred Savings and Early Retirement," Computing in Economics and Finance 2006, Society for Computational Economics 31, Society for Computational Economics.

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