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Economists have long recognized the importance of capital accumulation for productivity and economic growth. The National Bureau of Economic Research is currently engaged in a study of the relationship between such accumulation and taxation policies, with particular focus on saving, risk-taking,...
Persistent link: https://www.econbiz.de/10012675790
Although there have been several studies of the effect of social security on private saving, there has been no attempt to measure the welfare cost of this distortion. The present paper develops an analytic framework for this evaluation and presents numerical calculations
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increases in domestic savings rates induce approximately equal increases in domestic rates of investment. New estimates for the … flows than to their short-run behavior. Coefficient estimates based on annual variations in savings and investment are …
Persistent link: https://www.econbiz.de/10012478160
This study examines the potential effects on personal savings of alternative types of tax rules. The analysis makes use … of two extensive samples of information on individual savings and financial income: the 1972 Consumer Expenditure Survey … would permit all tax-payers to make tax deductible contributions to individual savings accounts. The interest and dividends …
Persistent link: https://www.econbiz.de/10012478440
This paper examines empirically the effect of unfunded pension obligations on corporate share prices and discusses the implications of these estimates for national saving, the decline of the stock market in recent years, and the rationality of corporate financial behavior. The analysis uses the...
Persistent link: https://www.econbiz.de/10012478627
This paper discusses how private pension programs differ from public social security in their likely impact on aggregate saving. Although private pensions are likely to reduce direct saving by employees, this should be offset by the combination of companies' partial funding and the shareholders...
Persistent link: https://www.econbiz.de/10012478728