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dc.contributor.authorBloom, David E.
dc.contributor.authorCanning, David
dc.contributor.authorMansfield, Rick
dc.contributor.authorMoore, Michael
dc.description.abstractIn theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in countries with universal pension coverage and retirement incentives, though the effect disappears in countries with pay-as-you-go systems and high replacement rates.
dc.rightsRequired Publisher Statement: © Elsevier. Final version published as: Bloom, D. E., Canning, D., Mansfield, R. & Moore, M. (2007). Demographic change, social security systems, and savings. Journal of Monetary Economics, 54(1), 92-114. Reproduced with permission. All rights reserved.
dc.subjectdemographic change
dc.subjectpopulation economics
dc.subjectsocial security systems
dc.titleDemographic Change, Social Security Systems, and Savings
dc.description.legacydownloadsMansfield1_Democratic_Change.pdf: 334 downloads, before Oct. 1, 2020.
local.authorAffiliationBloom, David E.: Harvard School of Public Health
local.authorAffiliationCanning, David: Harvard School of Public Health
local.authorAffiliationMansfield, Rick: Cornell University
local.authorAffiliationMoore, Michael: Queen's University, Belfast

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