planner, who uses tools such as default savings and Social Security to influence the consumption choices of myopic and passive …

Typical neoclassical life-cycle models predict that Social Security has a large and negative effect on private savings … private savings and find little to support the strong predictions from the theoretical model. We explore possible reasons for …

little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …

The effect of social security and other forms of government debt on national savings is one of the most widely debated … policy questions in economics today. Some estimates suggest that social security has reduced U.S. savings by almost forty … percent. This paper examines recent cross-section and time series empirical tests of the social security-savings question and …