Standard money-in-utlity dynamic models assume satiable liquidity preference, and thereby prove the existence of a full employment steady state. Using the same model, Ono (1994) shows that under insatiable liquidity preference there is a case where a full employment steady state does not exist...

We project the future trends of the japanese saving rates with special emphasis on an analysis of the consumption and saving behavior of the household sector. Notable feature of our modeling is that savings are divided into financial and real savings components. This approach is useful since the...