title: Projected long-term demographic trends and aggregate personal saving in the United States.
abstract: The potential effect of the changing age distribution of the U.S. population on the level of aggregate saving is examined.  "The Modigliani-Brumberg life-cycle model predicts a relationship between age distribution and the aggregate saving ratio via the population growth rate, which affects the ratio of earner/savers to retiree-dissavers.  Aging resulting from slower population growth will result in a decline in the aggregate saving rate.  This paper utilizes empirical age-saving relations, together with projected long-run population age distributions, to estimate the age distribution effect on aggregate personal saving.  Results predict a much smaller decline in the saving ratio than is generated by the basic life-cycle model."
authors.forename: A C
authors.initials: AC
authors.lastname: Wiseman
mesh_terms: D017677:Age Distribution; D000367:Age Factors; D000569:Americas; D003710:Demography; D019049:Developed Countries; D004467:Economics; D007182:Income; D008962:Models, Theoretical; D009656:North America; D011153:Population; D011154:Population Characteristics; D011157:Population Dynamics; D011158:Population Growth; D012106:Research; D014481:United States
keywords: Age Distribution--changes; Age Factors; Americas; Demographic Aging; Demographic Factors; Developed Countries; Economic Factors; Macroeconomic Factors; Models, Theoretical; North America; Northern America; Population; Population Characteristics; Population Dynamics; Population Growth; Research Methodology; Savings; United States