%0 Journal Article %D 2006 %T Longevity and aggregate savings. %A Sheshinski, Eytan %K D1 %K D6 %K ddc:330 %K E2 %K H0 %X For the last fifty years, countries in Asia and elsewhere witnessed a surge in aggregate savings per capita. Many empirical studies attribute this trend to the highly significant increases in life longevity of the populations of these countries. Some argue that the rise in savings is shortrun, to be eventually dissipated by the dissaving of the elderly, whose proportion in the population rises along with longevity. This paper examines whether these conclusions are supported by economic theory. A model of life cycle decisions with uncertain survival is used to derive individuals’ consumption and chosen retirement age response to changes in [...] %G eng %U http://search.ebscohost.com/login.aspx?direct=true&db=edsbas&AN=edsbas.ftzbwkiel.oai.econstor.eu.10419.25873&site=eds-live