arises due to the differential response of precautionary savings to private income or fiscal transfers shocks in an uncertain …

Substantial evidence suggests that savings behavior may depart from neoclassical optimization. This article examines … the implications of raising the savings rate - whether through social security, retirement plans, or otherwise - for labor … savings behavior. Under one formulation, raising the targeted savings rate has the same effect on labor supply as that of …

A central justification for social insurance and for other policies aimed at retirement savings is that individuals may … payroll taxes and other withholding to fund retirement savings as akin to an income tax, while largely ignoring the distant …, making savings-promotion policies much more costly than appreciated. Or consider what may be the labor supply implications …

Does a higher real interest rate induce significant postponement of consumption? According to the theory developed here … savings accounts. Over the same period, the rate of growth of consumption has been almost steady. The paper concludes that …

. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …