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 …

of the Combrain will be to identify,plan&derive implementation methods for Basic Needs;Domestic Investment …

. Using this model, I demonstrate how a positive investment-saving correlation can arise in a world with endogenous fiscal … capital mobility. This implies that the observed investment- saving comovement is not necessarily due to imperfect capital … mobility. The model has a testable implication: it predicts a lack of Granger causality from private saving to private …

correlation between the return on housing investment and consumption not only implies positive relationship between the portfolio … share of housing investment and excess return but also renders the housing wealth inappropriate in consumption smoothing. We …A house is generally considered as a 'roof over one's head', however, housing can be regarded as an investment or asset …

have an incentive to signal that he is in great need by saving more than he otherwise would have done. …

consumption. Clearly such decisions are closely related to their investment decisions. The 'planners' consumption function … for consumption only about one half of the increment of national income; the observed 'counter cyclical' fluctuations in …This paper presents estimates of the macroeconomic consumption function for a Soviet type economy. Systemic differences …