savings. In line with life-cycle theory, we found that longevity increases saving ratios. …

. We simulated an aggregate saving equation and derived a reduced-form model, together with other factors such as public … both pension and health transfers may have a significant negative impact on the household saving. Therefore these …

SAVING DOES NOT EQUAL INVESTMENT John Maynard Keynes confused economists and politicians all over the world when he … wrote, “Saving is necessary to equal investment” together with a few equations to confirm his idea and finally concluding … that S = I. There have been repeated discussions about how saving can equal investment, accidentally or with certainty. We …

This paper documents that region-level consumption exhibits excess sensitivity to lagged income in Italy, Japan, Spain …, the United Kingdom and West Germany. However, region-specific idiosyncratic) consumption exhibits substantially less …

periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit … markets. The simulated numerical solution to this model shows that weekly consumption functions are ordered such that the …

1982-2003. To this end, standard consumption equations are estimated and then compared, in terms of in-sample and out … about the i) current, ii) future, iii) general, and iv) personal situation. In turn, the total private consumption is … household surveys improves both the goodness- of-fit of consumption equations and their forecasting performances. It is …

ageing-consumption, an ageing-saving, a saving-capitalisation and a saving-longevity puzzles have been put forward in the … welfare systems have a significant negative impact on household saving rate. It can also explain why the increase in longevity … does not have had in general a positive impact on the household saving ratio. …

which makes it possible to better characterize the influence of the ageing process on the older people consumption. …