This paper examines the time path of saving rates between 1970 and 2010 in Chile, Colombia, and Mexico through the lens of the neoclassical growth model.The findings indicate that two factors, the growth rate of TFP and fiscal policy, are able to account for some of the major fluctuations in...

This paper discovers that Frank Ramsey had turned his growth model upside down to obtain the opposite outcome from expected. Subsequently, this paper refines his upright model to derive all his dream results. When Ramsey's dream is correct, any other definition of growth must be rejected

We study the relationship between saving choices and a key psychological characteristic such as locus of control using data from a longitudinal survey representative of the Dutch population. Locus of control measures the extent to which individuals perceive their life outcomes to be determined...