Demographics, Fiscal Policy, and US Saving in the 1980s and Beyond

Alan J. Auerbach and Laurence J. Kotlikoff, Tax Policy and the Economy: Volume 4 (The MIT Press, 1990), chap. 4, https://www.nber.org/books-and-chapters/tax-policy-and-economy-volume-4/demographics-fiscal-policy-and-us-saving-1980s-and-beyond.