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Aging in Germany and the United States: International Comparisons

  • Axel Borsch-Supan
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    This paper reports on a set of international comparisons of how the German and the U.S. economies are affected by population aging. The paper's main focus is on the influence of institutional arrangements such as government regulations and subsidies on retirement, savings and housing choices in the two countries. Germany faces a particularly pronounced aging process. Her dependency ratio is already now as large as it will be in the year 2015 in the U.S., and it is predicted to exceed 43 percent at its peak in 2030. In this respect, changes that are occurring in Germany now may be regarded as indicative for changes to come in the United States. Retirement, savings and housing behavior differ quite markedly between Germany and the United States, and I will show that most of these differences are consistent with the incentives applicable to each country.

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    File URL: http://www.nber.org/papers/w4530.pdf
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    Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4530.

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    Date of creation: Nov 1993
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    Publication status: published as Studies in the Economics of Aging, ed. David Wise, University of Chicago Press, 1994, p. 291
    Handle: RePEc:nbr:nberwo:4530
    Note: AG
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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    Web page: http://www.nber.org
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    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Laurence J. Kotlikoff & David A. Wise, 1987. "The Incentive Effects of Private Pension Plans," NBER Working Papers 1510, National Bureau of Economic Research, Inc.
    3. Zvi Bodie & John B. Shoven & David A. Wise, 1987. "Issues in Pension Economics," NBER Books, National Bureau of Economic Research, Inc, number bodi87-1, May.
    4. Steven F. Venti & David A. Wise, 1990. "But They Don't Want to Reduce Housing Equity," NBER Chapters, in: Issues in the Economics of Aging, pages 13-32 National Bureau of Economic Research, Inc.
    5. Edward P. Lazear & Robert L. Moore, 1988. "Pensions and Turnover," NBER Chapters, in: Pensions in the U.S. Economy, pages 163-190 National Bureau of Economic Research, Inc.
    6. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-26, Sept./Oct.
    7. 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, vol. 105(3), pages 661-98, August.
    8. Alan J. Auerbach & Laurence J. Kotlikoff & Robert P. Hagemann & Giuseppe Nicoletti, 1989. "The Economic Dynamics of an Ageing Population: The Case of Four OECD Countries," OECD Economics Department Working Papers 62, OECD Publishing.
    9. 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 706-32, August.
    10. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
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