ABEYSINGHE, Tilak; Meng, CHOY Keen - Department of Economics, National University of Singapore - 2002
We draw attention to an apparent puzzle in the aggregate consumption behaviour of Singaporeans. In stark contrast to the rest of the world, the average propensity to consume has plummeted to a record low of two-fifths of income in 2000 leaving the economy without a good built-in stabilizer. This...