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Social Security and Saving: New Time Series Evidence

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  • Feldstein, Martin

Abstract

Analysis of data from 1930-1992, reconfirms an earlier study that individuals substitute Social Security benefits for personal saving. Each dollar of Social Security wealth reduces private saving by two to three cents. In the aggregate, Social Security reduces overall private saving by nearly 60 percent.

Suggested Citation

  • Feldstein, Martin, 1996. "Social Security and Saving: New Time Series Evidence," National Tax Journal, National Tax Association;National Tax Journal, vol. 49(2), pages 151-164, June.
    • Handle: RePEc:ntj:journl:v:49:y:1996:i:2:p:151-64
    DOI: 10.1086/NTJ41789194
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    References listed on IDEAS

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    1. Feldstein, Martin, 1996. "The Missing Piece in Policy Analysis: Social Security Reform," American Economic Review, American Economic Association, vol. 86(2), pages 1-14, May.
    2. Martin Feldstein & Robert J. Barro, 1978. "The Impact of Social Security on Private Saving: Evidence from the U.S. Time Series," Books, American Enterprise Institute, number 936368, September.
    3. Feldstein, Martin S, 1982. "Social Security and Private Saving: Reply," Journal of Political Economy, University of Chicago Press, vol. 90(3), pages 630-642, June.
    4. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-926, Sept./Oct.
    5. Leimer, Dean R & Lesnoy, Selig D, 1982. "Social Security and Private Saving: New Time-Series Evidence," Journal of Political Economy, University of Chicago Press, vol. 90(3), pages 606-629, June.
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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