Tax-Deferred Accounts, Constrained Choice and Estimation of Individual Saving
分析美国税收递延个人退休账户（IRA）对净个人储蓄的影响，基于约束优化模型估计发现IRA贡献带来显著净储蓄增加，若提高限额，新增贡献中仅10-20%来自其他储蓄，约50%来自减少消费，35%来自减税。
The paper analyzes the effect of tax-deferred individual retirement accounts (IRAs) in the United States on net individual saving. The results are based on a model of constrained optimization with the limit on tax-deferred saving the principle constraint. The estimates suggest that contributions to IRAs represent substantial net saving increases. Were the IRA limit to be increased, only about 10 to 20% of resulting increase in IRA contributions would be taken from other savings. About 50% would come from reduced consumption and about 35% from reduced taxes.