This article examines how the availability of annuities affects savings and inequality in economies in which neither … children pool longevity risk to their mutual advantage. The analysis of the latter economies takes into account the infinite … sequence of risk sharing bargains of successive parents with their children. Such bargains affect current risk sharing between …

This paper analyses recent contributions to the theory of household saving and examines empirical evidence on the …

compared to the after-tax return on an alternative portfolio of similar risk, more than 60%of the decline in life insurance … savings (suitably defined) in the past two decades can be attributed to a widening after-tax rate of return differen …-tial.Both the existence and importance of this result depend on the characteristics of life insurance savings. Life insurance saving …

, while those that do not are labelled savings policies. While both types of policies alter marginal incentives to accumulate … financed by short run increases in the stock of debt, significantly increase capital formation.2)Deficit-financed savings …

increases in domestic savings rates induce approximately equal increases in domestic rates of investment. New estimates for the … flows than to their short-run behavior. Coefficient estimates based on annual variations in savings and investment are …

, does not allow separation of the savings decisions of agents from the investment decisions of firms. Investment is … equilibrium used in macroeconomics characterizes both the savings-consumption decision and the investment decision, or …

tendency to decline with age, in apparent contradiction of the life-cycle theory of saving. However, a broadened concept of …") does decline more or less as predicted by the theory. No matter how they are defined, assets are a decreasing function of … issues econometrically, an equation for assets is developed from the strict life-cycle theory. The specification is …

"hump" savings. A major difference between this study and previous investigations of this issue is the use of more accurate … savings. This paper suggests the importance of and need for substantially greater research and data collection on … intergenerational transfers. fife-cycle models of savings that emphasize savings for retirement as the dominant form of apical …