"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 …

savings (“excess savings”) and a small but persistent current account deficit (a slow-motion “twin deficit”). These patterns …

, investment in capital goods and a non-traded good. Such an environment is rich enough to explain several phenomena that are … inexplicable in more barren models. We suggest an explanation of why saving and investment may be correlated even with no … restrictions on trade in assets. We explain why a high saving country may nonetheless borrow from abroad to finance investment. We …

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

optimal savings and therefore the level of unintended bequests. While those bequests may have no value to the retirees, they …

critical for understanding the relationship between aggregate fertility and household savings. First, we document that parents … household savings. Then, we construct an OLG model that parametrically matches the PE empirical evidence. Finally, we extend the … aggregate fertility on household savings …

oversupply of savings. Other forces that work in the same direction and can both create or exacerbate the problem include a drop … in population growth, an increase in income inequality, and a fall in the relative price of investment. Our model sheds …