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Mandatory Retirement Saving and Capital Formation

In: The Determinants of National Saving and Wealth

Author

Listed:
  • Walter Dolde

    (General Electric Company)

  • James Tobin

    (Yale University)

Abstract

In this paper we examine the macroeconomic implications of mandatory retirement saving programmes in a life cycle framework. Such programmes include both social security and private pensions. First, we provide an interpretation and attempt a synthesis of recent research results. Then we present a computer simulation model and the results of alternative simulation experiments. The model applies only to dynamic steady states. We find important economic effects resulting from changes in the funding of mandatory retirement programmes, in benefit levels, and in sources of tax revenues.

Suggested Citation

  • Walter Dolde & James Tobin, 1983. "Mandatory Retirement Saving and Capital Formation," International Economic Association Series, in: Franco Modigliani & Richard Hemming (ed.), The Determinants of National Saving and Wealth, chapter 3, pages 56-88, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-17028-9_3
    DOI: 10.1007/978-1-349-17028-9_3
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    Cited by:

    1. Robert W. Dimand, 2014. "James Tobin and Modern Monetary Theory," Center for the History of Political Economy Working Paper Series 2014-5, Center for the History of Political Economy.
    2. Kotlikoff, Laurence J, 1984. "Taxation and Savings: A Neoclassical Perspective," Journal of Economic Literature, American Economic Association, vol. 22(4), pages 1576-1629, December.

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