what determines differences in saving behaviour across countries. Using a panel of 47 economies with at least 40 years of … and cyclical shocks to uncover that cyclical productivity shocks tend to have a strong positive effect on saving rates … robust, and we reconfirm that large declines in productivity shocks were associated with large decline in saving rates …

We argue that the US personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between target and actual … suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …

We argue that the U.S. personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … presence of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between 'target' and … suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …

unique under full insurance. If investment is fully insured but unemployment risk is uninsured, the precautionary saving … multiplicity and promote risky investment. prudence, temperance, precautionary saving, portfolio choice …

We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent … stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model … saving rate's long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business …

We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent … stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model … saving rate's long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business …