Understanding private saving behavior of the citizenry is crucial for informed policy decisions in an economy. The reason is not far-fetched; economies gain sustained growth from investment through a positive saving culture. However, much of the available literature is on aggregate savings rather...

Dialogue on the effects of macroeconomic policies relative to the welfare of citizens has remained virtually unchanged since time immemorial. These economic policy discussions have had different dimensions, from subjective to objective welfare. As a contribution to literature, this paper...