In this paper we explore the impact of demographic variables on the aggregate propensity to save (PS), on the aggregate wealth income ratio (WIR) and on the distribution of wealth (WD), in the life cycle (LC) "egalitarian" model. We depart from Modigliani and Brumberg (1954) and Atkinson (1971)...

In this paper we explore the impact of the life-cycle dynamics of family composition on the aggregate wealth-income ratio and on the aggregate propensity to save in the hypothesis of life-cycle behaviour. We depart from Modigliani-Brumberg’s basic model by assuming that the household, rather...