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

By James M. Poterba

The declining U.S. nationwide saving price has caused economists and policymakers to invite, may still the government motivate family saving, and if this is the case, wherein rules? with a view to greater comprehend saving courses, this quantity offers a scientific and specified description of saving regulations within the G-7 industrialized international locations: the U.S., Canada, France, Germany, Italy, Japan, and the United Kingdom.Each of the seven chapters specializes in one state and addresses a center set of issues: varieties of gathered loved ones discount rates and debt; tax guidelines towards capital source of revenue; saving within the kind of private and non-private pensions, together with Social safety and comparable courses; saving courses that obtain unique tax therapy; and saving via insurance.This special precis of the saving incentives of the G-7 countries should be a useful reference for policymakers and lecturers drawn to own saving habit.

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Public Policies and Household Saving (National Bureau of Economic Research Project Report)

The declining U. S. nationwide saving cost has brought on economists and policymakers to invite, may still the government inspire family saving, and if this is the case, by which guidelines? which will larger comprehend saving courses, this quantity offers a scientific and unique description of saving regulations within the G-7 industrialized international locations: the USA, Canada, France, Germany, Italy, Japan, and the uk.

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4 Dividends The Canadian tax system has partially integrated corporate and personal income taxes, via the dividend tax credit. Under this system, dividends paid by taxable Canadian corporations are first “grossed up” by 25 percent, to get back (partially) to the underlying corporate income on which the dividend is based 11. , both imputed rent and capital gains-being taxed. Thus (thankfully) consumption tax and income tax supporters can agree that mortgage interest deductibility is handled correctly in Canada.

Burbidge and James B. 8 Shares of top: 10% 5% 2% 1% No. 9 14,029 Source: Authors’ calculations using Statistics Canada’s SCF public-use microdata tape. report premiums paid for employer-sponsored pension plans and life insurance policies, it would be very difficult to estimate private-pension wealth or lifeinsurance wealth from these numbers. Also absent are estimates of wealth held in the form of consumer durables other than vehicles and housing. The reporting of debts is much more comprehensive but it lacks the detail accorded assets.

The shares of land, residential structures, consumer durables, and so on, are very stable. 7 percent of net worth in 1990, which is somewhat surprising in view of 24 John B. Burbidge and James B. Davies c 0 Fig. 3 Components of personal net worth, 1970-90 Source: Statistics Canada, CANSIM matrix no. 75 1. the very large deficits run over much of this period by the federal government. 2 for the personal and unincorporated business sector. Like national net worth, personal net worth declined in real terms after 1981, but only for two years.

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