(before making additional payments). By contrast, debt declined most (so saving rose most) for unconstrained consumers. These …

Long-run saving dynamics are a crucial component of consumption-saving behavior. This paper makes two contributions to … our findings through the lens of a generalized consumption-saving framework, and show that life-cycle consumption models … the consumption literature. First, we exploit inheritance episodes to provide novel causal evidence on the long …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …

decide how many lab dollars to convert into "takehome pay," akin to consumption with diminishing returns. Subjects' decisions … like present-period tax avoidance, while optimal consumption and after-tax savings are identical for both treatments. Our … Traditional treatment leads to marginally higher post-retirement consumption. …

disaggregating household spending, income, saving, and debt between the bottom 95 percent and top 5 percent of the income …

We argue that the U.S. personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … recent substantial rise (2008-2011) can be interpreted using a parsimonious 'buffer stock' model of consumption in the … presence of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between 'target' and …