impatience are found to be significant predictors of health-related field behavior, saving decisions and conduct at school. In …

capital income risk, we solve for the optimal consumption-saving choices and show that the expected welfare is increasing with …

We study optimal savings in continuous time with exogenous transitions between employment and unemployment as the only …

be physically deposited into a savings account may increase the psychological costs of saving. This study experimentally … study how cash in hand influences decisions in a different but very important domain: savings. Savings accounts are a … promising tool for reducing poverty, but the use of savings accounts is often puzzlingly low. Holding on to cash that needs to …

Incomplete markets models imply heterogeneous household savings behaviour which in turn generates pecuniary … in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous … earnings processes of British households with university and non-university educated heads entail savings externalities that …

cycle. Decreasing discounting helps a canonical life-cycle model to explain the household saving puzzles of undersaving when …

risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this …

of savings, precautionary savings, loss aversion, and risk. We provide the relevant theory, followed by empirical tests …We consider a simple, two period, consumption-savings model with future income uncertainty that examines the interplay … present bias. We predict, and show empirically, that loss aversion reduces savings, and that those who are more loss averse …

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation …

Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top … of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as … the global saving glut, and it has not been associated with an increase in investment. Instead, the saving glut of the …