We consider combinations of subjective survey forecasts and model-based forecasts from linear and non-linear univariate specifications as well as multivariate factor-augmented models. Empirical results suggest that a simple equal-weighted average of survey forecasts outperform the best...

This paper formulates and discusses the hypothesis of a long run unbalance between Saving and Investment. Various remedies are proposed for such a problem, in the actual situation of economic crisis, depending on such unbalance. Among them there are: an agreement at G20 political level, for the...

Using data of households approaching retirement in the U.S., I find that the Whites' median saving rates are 9 percentage points larger than the Mexican Americans' rates (ethnic gap) and than the African Americans' rates (racial gap). Two-thirds of each gap correspond to changes in asset prices...