Public Policies and Household Saving (National Bureau of by James M. Poterba

By James M. Poterba

The declining U.S. nationwide saving expense has brought on economists and policymakers to invite, may still the government motivate family saving, and if this is the case, wherein regulations? to be able to higher comprehend saving courses, this quantity presents a scientific and unique description of saving rules within the G-7 industrialized countries: the USA, Canada, France, Germany, Italy, Japan, and the United Kingdom.Each of the seven chapters makes a speciality of one kingdom and addresses a center set of subject matters: varieties of accrued family discounts and debt; tax regulations towards capital source of revenue; saving within the kind of private and non-private pensions, together with Social safeguard and comparable courses; saving courses that obtain specific tax therapy; and saving via insurance.This certain precis of the saving incentives of the G-7 countries may be a useful reference for policymakers and teachers drawn to own saving habit.

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8 Source: Poterba, Venti, and Wise (1992). , October 1991). 16 James M. 0 Source: Turner and Beller (1992). in IRAs and Keogh plans. While these assets accounted for less than one-half of one percent of household net worth at the beginning of the 1980s, they represented more than 3 percent of net worth by 1990. If 401(k) balances were included as well, this share would be substantially greater. 15 charts the rapid growth of 401(k) plan assets during the past decade. Between 1984 and 1988, the number of plans more than tripled, and the number of participants more than doubled.

The use of DPSPs has declined dramatically since new rules denying a deduction for contributions to plans for the benefit of significant shareholders and related persons were introduced. We have not looked at DPSPs in any detail in this study. 40 John B. Burbidge and James B. 500-PA 12,500-PA 13,500-PA 14,500-PA 15,500-PA - - - - - - - Source: Authors’ compilation from standard references. ” The PA is the sum of pension credits under DPSPs or RPPs. For money-purchase plans, this is simply the sum of employer and employee contributions.

Net financial assets from the country’s point of view represent its net claims on assets in the rest of the world, if positive, or the rest of the world’s net claims on the country, if negative. The sum of the value of physical and net financial assets is the country’s net worth. 2 shows the components of national net worth for the period 197090. Particularly noteworthy is the decline in real net worth after 1981; the 1981 level was not exceeded until 1987. Increases and declines in net worth are associated with similar movements in its components.

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