Word: feldsteins
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...Feldstein's paper prompted studies by several economists. While some of this work supported his conclusions, some did not, and none found as large an effect on private saving as Feldstein did, according to economist Henry J. Aaron of the Brookings Institute, a liberal Washington-based think-tank...
Most recently, in a January report by the Social Security Administration, economists Selig D. Lesnoy and Dean R. Leimer challenged Feldstein's choice of statistical model, his data, and the conclusions he draws from those data...
...Feldstein says that Leimer and Lesnoy's criticisms of his data and model do not detract from his conclusions because his model works even without the contested data...
...Feldstein insists, however, that he is not alone in his view. "The fact that a lot of different studies have come to similar conclusions from quite different kinds of data makes them all more convincing," he says...
...Feldstein says he has statistical backing for his position based on several econometric studies he has made since 1974. The studies in dispute use computer analyses of historical data on private saving to make predictions about the effect of anticipated social security benefits on savings from the "life-cycle" model...