, the model cannot account for the low level of consumption (or high saving) as a proportion of income observed in the data …. An examination of provincial level consumption data suggests that the absence of channels for intranational consumption … risk sharing may be an important reason why the business-cycle model has trouble accounting for Chinese consumption and …

alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … consumption/saving of low-income households for the simple reason their income tax liabilities are relatively small. And social …

the welfare loss of capital income taxation relative to the alternatives of taxing consumption and labor income.The second … technology of private investment. Government policies that discourage saving might make the Schumpeterian vision of a shift from … sharp decline in the net national saving rate-from over 8% of GDP in the U.S. in the 1970s to only 4.5% in the 1980s & from …

reducing consumption; goods and leisure are consumed jointly, suggesting their complementarity in household production; and … people's lifetime demand for leisure. The implied small increase in lifetime income and the slight reduction in consumption …The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon …

fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry … reminders may increase saving, and that reminders will be more effective when they increase the salience of a specific …

help explain the aggregate movements in saving, spending, and debt in 2008. Because the rebate was large and distributed …

We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life …-cycle model with flexible labor supply. Our framework allows for wage rate uncertainly, variable labor supply, social security …, variable labor materially alters pre-retirement portfolio choice by significantly raising optimal equity holdings. Using this …

return on capital, output growth rates, tax progressivity, top income shares, and heterogeneity in saving rates and …