One of the basic motives for saving is the accumulation of wealth to insure future welfare. Both introspection and … article is whether we find this difference to be large in practice. What is the empirical importance of precautionary saving …? We provide a simple decomposition that characterizes the importance of precautionary saving in the US economy. We use …

steady-state supply of saving at the world level. With endogenous technical progress, financial repression may increase …

, agents’ prior beliefs are endogenously heterogeneous. Finally, in a consumption-saving problem with stochastic income, agents …

been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does …

one-half the current level. Such dramatic demographic change could have a powerful impact upon saving behaviour in both … United Kingdom and the rest of Europe. How governments respond to shifts in saving and in the burden of state pensions is …

saving rate; (ii) strengthen the effect of growth on saving; and (iii) increase the growth rate if productivity growth is … endogenous. These propositions are supported by cross-country regressions of saving and growth rates on indicators of liquidity … saving rates in the OECD countries and that the process of financial integration in the European Community may lead to a …

precautionary saving motive in a two-period model with Kreps-Porteus preferences. For small risks, we derive a measure of the … strength of the precautionary saving motive, which generalizes the concept of ‘prudence’ introduced by Kimball (1990b). For … large risks, we show that decreasing absolute risk aversion guarantees that the precautionary saving motive is stronger than …

A broad set of possible determinants of private saving behaviour is examined, using data for a large sample of … partial offset on private saving of changes in public saving and (for developing countries) in foreign saving, that … demographics and growth are important determinants of private saving rates, and that interest rates and terms of trade have …