Capital gains, pension funds and the low saving ratio in the United States
DOI:
https://doi.org/10.13133/2037-3643/10929Keywords:
Savings, United States, ConsumerismAbstract
The United States has always been regarded as a consumer-oriented society. Statistics compiled for the 1980s demonstrate that the United States has a very low savings ratio. Two major factors are identified as causing this, the federal and state tax treatment of loan interest and the high volume of consumer credit. There are dangers associated with this short-term perspective of instant consumerism, and institutions dealing in long-term financial management (pension/insurance companies) have particular problems in this respect.
JEL: E21
References
FEDERAL RESERVE SYSTEM (1975), Introduction lo Flow 01 Funds. Washington.
OECD (1988), Financial Accounts 01 the OECD Countries 1987. Paris.
HIRSCH, F. (1976), Social Limils fa Growth. Harvard University Press, Cambridge, Mass.
MUNNEL, A.H. (1987), "Pensioo Contributions aod the Stock Market". New England
Economie Review. Nov. Dee.
SCITOVSKY, T. (1986), "An Anomaly in the O.S. Personal Incame aod Saving Statistics", J.
S. Cohen aod G.c. Harcourt (eds.), International Monetary Problems and Supply Side
Economies. Macmillan London.
SCITOVSKY, T. (1987), "Growth in the AffLuent Sodety", Lloyds Bank Review, no. 163,
]anuary.
STEINDL,]. (1982), "The Role of Household Saving in the Modern Economy", in this
Review no. 140, March.
UNO (1968), A System of National Accounts. Washington.
WALTERSKIRCHEN, E. (1990), "Budgetsanierung in Europa". Monatsberichte des
osterreichischen Instituts fur Wirtschaftsforschung. ]anuary.
WARSHAWSKY, M.]. (1988), "Pension Plans: Funding, Assets and Regulatory Environment",
FederaI Reserve Bulletin. Nov.
Downloads
Published
How to Cite
Issue
Section
License
