The main contribution of the paper is an attempt to address the selection and growth issues by working, not with cohorts of households, but with cohorts of individuals. The gain from doing so is that we dispose completely of selection associated with household formation, which compro-mises our...

Changes in social security laws and regulations which took place in the late sixties and early seventies apparently weakened the link between contributions and benefits permitting a time path of aggregate consumption in excess of what would have occured in the absence of such changes. In this...

The questions raised by this paper include the following: Did working-class American families around the turn of the twentieth century save more for precautionary purposes, to finance retirement or to provide for unforeseen circumstances such as unemployment, illnesses, or accidents before the...

The main conclusion is that the negligible proprnsity to save for the poor can be explained stasfactorily without invoking the idea that the poor discount future utility at an excessive rate.

In this paper a model is developed which determines the socially optimal level of saving for a small open economy. The model also determines the socially optimal disposition of saving between domestic capital accumulation and overseas asset accumulation.