Social Security and Private Savings: International Evidence in an Extended Life-Cycle Model

Abstract

The extended life-cycle model shows that the impact of social security on private savings depends on two opposing effects: wealth replacement and induced retirement. The net impact can be determined only empirically. The current study uses data for a cross-sectional sample of developed countries so as to evaluate both effects. The evidence indicates that increases in the extent of social security coverage and in the relative level of benefits substantially depress the rate of private saving. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 119 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.