the elderly. This study suggests that these demographic trends may lead to a decline in the G-7 private savings rate after … 2000, compounding the impact of social expenditure pressures on the government’s deficit. Moreover, public pensions may …

This paper develops and tests a model of Japan’s household savings rate, based on the life-cycle hypothesis that the … primary motive for savings is provision for retirement. The paper shows that Japan’s high household savings rate in recent … improvements in public pension benefits and the aging of the population. It projects that the savings rate will decline …

-existing mandatory pensions for private sector workers, but they need a stronger supervision and regulation to enhance their benefits …. Rules should seek to promote portfolio diversification, higher portability of pensions and old age income security through …

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing … for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that … neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior. The …

productivity growth. While these reforms are needed, private pensions can also play a role inimproving retirement income for … savings for retirement. This note also addresses the challenges of the private, funded system and proposes policy …

, the limited tools available to policymakers to affect savings are discussed. Finally, the extent to which recent tax …