, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there …

requires, should be easy to empirically disprove: since household-consumption choices differ for households with more members …

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

The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income … target, temporarily boosting saving. …

. The macroeconomic data indicate that households saving has dropped significantly, although Italy continues to rank above … most other countries in terms of saving. We then examine with microeconomic data four indicators of household financial … pension system, the fall in saving is a concern, particularly for individuals who entered the labor market after the 1995 …

We argue that the US personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … recent substantial rise (2008-2011) can be interpreted using a parsimonious buffer stock model of consumption in the presence … of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between target and actual …