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Issues in the Measurement and Determinants of Business Saving

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  • Alan J. Auerbach

Abstract

This paper begins with a discussion of the measurement of business saving,with the conclusion that even "corrected" measures of business saving are quite inaccurate in the presence of inflation, leading to an overstatement of the recent decline in business saving. The remainder of the paper focuses on the more fundamental issue of why it should matter who saves. Beginning from their relevance proposition associated with the Modigliani-Miller theorem, we consider the channels through which taxation causes the identity of the saver to have real effects. Finally, we consider the relative efficiency of business versus personal savings incentives, in light of our results.

Suggested Citation

  • Alan J. Auerbach, 1982. "Issues in the Measurement and Determinants of Business Saving," NBER Working Papers 1024, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:1024
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    File URL: http://www.nber.org/papers/w1024.pdf
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    Cited by:

    1. Yamada, Tetsuji, 1990. "The effects of Japanese social security retirement benefits on personal saving and elderly labor force behavior," Japan and the World Economy, Elsevier, vol. 2(4), pages 327-363, December.

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