large changes raise a number of issues concerning their consequences, both real - in terms of consumption and savings - and … choice theory) and the impact of aggregate wealth on consumption (wealth effect), taking into account population ageing. The … lead to an increase of the aggregate saving rate for at least the coming twenty years. …

elasticity of intertemporal substitution shows that a rise in the interest rate has an important effect on consumption. Earlier …

consumption and leisure. The econometric analysis uses panel data, and therefore it differs from existing econometric studies that …

This paper studies the effect of combining different insurance schemes on the efficiency of consumption smoothing in an … (1988). The risk averse agent's savings play the role of a collateral, thereby improving consumption smoothing. Furthermore … savings and debt substitutable. If these assumptions are relaxed, consumption smoothing worsens but is still better than what …

, consumption and savings of households. It gives a measure of purchasing power within a consistent and integrated framework, which … surveys exist providing individual data on income and consumption. Those surveys are used to measure inequalities between … levels) have been combined to give a breakdown of income and consumption measured in the national accounts (for the year 2003 …