The Impact of Social Security on Private Saving: Evidence from the U.S. Time Series

Abstract

“The Impact of Social Security on Private Saving: Evidence from the U.S. Time Series, †by Robert J. Barro, with a reply by Martin Feldstein, is the first of a series of studies of the effect of social security on saving and capital formation. It sheds more light on the dispute begun in 1974 when Martin Feldstein’s startling research showed that social security had significantly depressed private saving.

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