James, John A.; Palumbo, Michael G.; Thomas, Mark - In: Oxford Economic Papers 59 (2007) 4, pp. 606-640
This paper examines the saving decisions of a large sample of turn-of-the-century working-class American families. We decompose each family's reported income into permanent and transitory components and then estimate marginal propensities to save from each component. Marginal propensities to...