|
EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/30451
|
| | |
| Title: | | Is social security behind the collapse of personal saving?  |
| Authors: | | Caliendo, Frank N. |
| Issue Date: | | 2009 |
| Series/Report no.: | | CESifo working paper 2746 |
| Abstract: | | This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to blame. Specifically, the model predicts that a 50-percent increase in the social security tax rate (as in the U.S. over the last half century) produces a modest decline in the personal saving rate from 10 percent down to 9.6 percent. This result runs counter to some popular opinion. |
| Subjects: | | NIPA personal saving rate social security life-cycle permanent-income model general equilibrium calibration |
| JEL: | | E21 D91 H55 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/30451
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|