utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …

The national income and product accounts double-count investment, which enters once when it occurs and again in present … gross investment. In the steady state, revised product and income correspond to consumption. Outside of the steady state …, the measure deviates from consumption because full expensing relates to the long-run flow of gross investment, not the …

privatization effects on savings in Eastern Europe, with limited evidence of positive savings effects in Latin America. These …