expenditures. Home ownership causes households to move up the housing ladder, work harder, and save more. Consumption increases out … with similar tenants. We link the tenants to their tax records to obtain information on demographics, income, mobility … patterns, housing wealth, financial wealth, and debt. These data allow us to construct high-quality measures of consumption …

This paper studies the effect that changing demographic patterns have had on the household saving rate in China. We …'s utility enter into parent's utility where parents choose the consumption level of the young until they leave the household … the household saving rate …

How households draw down their balances in personal retirement accounts (PRAs) such as 401(k) plans and IRAs can have … an important effect on retirement income security and on federal income tax revenues. This paper examines the withdrawal … behavior of retirement-age households in the SIPP and finds a modest rate of withdrawals prior to the age of 70½, the age at …

"Buffer-stock" versions of the dynamic stochastic optimizing model of saving are now standard in the consumption … models, including the existence of a target level of wealth and the proposition that aggregate consumption growth equals … aggregate income growth in a small open economy populated by buffer stock consumers …

. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …, households optimally choose a lumpy profile of memorable goods consumption even in a frictionless world. Using Consumer … cost of consumption fluctuations and conduct an excess-sensitivity test of the consumption response to predictable income …

A new empirical analysis of aggregate United States consumption and saving for the period 1947-80 is presented. The … model is based on the theory of exact aggregation. It recognizes explicitly that households with different characteristics … may be heterogeneous in their behavior and that aggregate behavior may depend on the changing composition of households by …

savings accounts. Over the same period, the rate of growth of consumption has been almost steady. The paper concludes that …Does a higher real interest rate induce significant postponement of consumption? According to the theory developed here …, this question can be answered by studying the relation between the rate of growth of consumption and expected real interest …

-ante heterogeneity, income processes and asset structure, we show that the most important factor is the share and type of hand …-to-mouth households. One-asset models either feature a trade-off between a high average MPC and a realistic level of aggregate wealth, or … generate an excessively polarized wealth distribution that vastly understates the wealth held by households in the middle of …

savings rate on the investment rate, as performed in the literature, are shown to be incorrect tests of the hypothesis of …This paper presents an infinite horizon model of consumption and taxation " smoothing" that implies a simple relation … between current accounts, budget deficits, investment rates and transitory output shocks. It is argued that such a model could …