introduction of an unfunded social security program will raise consumption even if all bequests reflect intergenerational altruism … earnings are uncertain, his future bequest is also uncertain and his consumption therefore rises more in response to an …

alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing …

consumption or investment. In this way, aggregate demand would be maintained by substituting public consumption for private … consumption. A second alternative prescription was to reduce the private saving rate. Early Keynesians like Seymour Harris saw the …

estimating two models in which society makes consumption and labor supply decisions in light of uncertainty over future …

the welfare loss of capital income taxation relative to the alternatives of taxing consumption and labor income.The second …