Secular Movements in U.S. Saving and Consumption

The U.S. national saving rate has been declining since the 1960s while the share of consumption in output has been increasing. We explore if a standard growth model can explain the secular movements observed in this time period. Our quantitative findings indicate that the standard neoclassical growth model is able to generate saving rates and consumption that are remarkably similar to the data during 1960-2004

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Year of publication:	2006-12-03
Authors:	Chen, Kaiji ; Imrohoroglu, Ayse ; Imrohoroglu, Selahattin
Institutions:	Society for Economic Dynamics - SED
Subject:	U.S. consumption \| saving \| TFP

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Extent:	application/pdf
Series:	2006 Meeting Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series 2006 Meeting Papers Number 154
Classification:	E21 - Consumption; Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005090743