-sectional Italian data. We evaluate the difference between desired and observed consumption using a technique proposed by Hayashi. We …

We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …

We estimate Euler equations for a number of countries and find that the excess sensitivity of consumption to current … income fluctuations is higher in the countries where consumers borrow less. The low level of consumer debt in these countries …

commitment to long-term investment. …

saving rate; (ii) strengthen the effect of growth on saving; and (iii) increase the growth rate if productivity growth is … endogenous. These propositions are supported by cross-country regressions of saving and growth rates on indicators of liquidity … saving rates in the OECD countries and that the process of financial integration in the European Community may lead to a …

The Paper reviews the literature on these tax incentives, with special focus on long-term saving, housing, and … household liabilities. The Paper addresses several areas of policy intervention: (1) the interest rate effect on personal saving …; (2) the effect of tax incentives on long-term mandatory saving programmes; (3) government programmes that target saving …

standards, Italy is a `high-saving' country; the Italian savings rate has declined markedly in the last three decades; the … correlation between saving and growth is stronger in Italy than in countries at comparable stages of economic development. We … household saving. The results suggest that capital market imperfections are the likely source of the high Italian savings rate …

steady-state supply of saving at the world level. With endogenous technical progress, financial repression may increase …

We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such … depreciates over time and has a cost in terms of current consumption, the model determines an optimal investment in literacy. The … investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy …

in net taxes has no effect on national saving during large fiscal contractions or expansions. For government consumption … suggest that in the OECD countries national saving responds non-monotonically to fiscal policy. The paper confirms that the … circumstance most likely to give rise to a non-monotonic response of national saving to a fiscal impulse is a 'large and persistent …