Casarosa, Carlo; Spataro, Luca - Centre for Research on Pensions and Welfare Policies … - 2007
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...