Saving, Pension Contributions, and the Real Interest Rate
检验了个人和私人储蓄的利率弹性可能因未控制固定收益养老金计划行为而被低估的假设，发现私人储蓄的利率弹性为0.04，个人储蓄为0.28。
A test of the hypothesis that estimates of the interest elasticity of personal and private saving may be biased downward by a failure to control for behavior related to defined benefit pension programs fails to reject existence of a positive interest elasticity of private saving. Correcting for pension funding bias, the estimated interest elasticity of private saving is 0.04, well below Michael J. Boskin's (1978) estimate of 0.4 obtained with a different data set and different estimation procedures. The estimated interest elasticity of personal saving is 0.28. Copyright 1989 by MIT Press.