What Determines Savings? - MIT Press (Paperback)
  • What Determines Savings? - MIT Press (Paperback)
zoom

What Determines Savings? - MIT Press (Paperback)

(author)
£45.00
Paperback 560 Pages / Published: 17/03/2003
  • Not available

This product is currently unavailable.

  • This item has been added to your basket
What determines savings? The question is timely and important. The U.S. saving rate is less than half that of Japan, Germany, and other developed countries, and the imbalance in saving rates across countries is responsible, in large part for the imbalance in international trade. This book examines a number of important determinants of wealth accumulation, including retirement bequests, and precautionary saving motives, demographics, the tax structure, social security, and insurance institutions. Using a blend of theory, empirical research and simulation methods, it reaches some surprising conclusions about what determines savings.Kotlikoff notes that most of U.S. wealth is due not to life cycle saving for retirement but rather to bequests and other intergenerational transfers. The process of passing wealth from one generation to the next may be explained, in large part, because of imperfect annuity arrangements.In addition to life span uncertainty, the author points out other types of uncertainty such as uncertainty about future medical expenditures can greatly stimulate saving. Fiscal policies, such as unfunded social security, can dramatically alter a country's wealth, although the process can take many years. Unfortunately, Kotlikoff observes, official fiscal deficits are intrinsically unreliable for measuring the government's stance of fiscal policy. He also concludes that the baby busts currently underway in the United States, Europe, and Japan are likely to improve overall economic welfare despite their detrimental impacts on social security systems.

Publisher: MIT Press Ltd
ISBN: 9780262611879
Number of pages: 560
Weight: 835 g
Dimensions: 229 x 152 x 25 mm

You may also be interested in...

The Essential Keynes
Added to basket
Why Nations Fail
Added to basket
£12.99   £9.99
Paperback
Boomerang
Added to basket
£9.99
Paperback
Guns, Germs And Steel
Added to basket
£10.99   £8.99
Paperback
Intermediate Microeconomics
Added to basket
The Shock Doctrine
Added to basket
£12.99
Paperback
Superfreakonomics
Added to basket
Poor Economics
Added to basket
£9.99
Paperback
The Road to Serfdom
Added to basket
£15.99
Paperback
The Great Crash 1929
Added to basket
Free Lunch
Added to basket
£9.99
Paperback
This Changes Everything
Added to basket
The Money Machine
Added to basket
£10.99
Paperback

Reviews

Please sign in to write a review

Your review has been submitted successfully.