This paper analyzes several issues regarding the measurement of saving and concludes that the observed declines in national, private, and personal saving rates in the United States cannot be attributed to measurement problems. It then examines several factors that seem to have been behind the...

The U.S. national savings rate has declined in the 1980s, with both public and private components falling. This paper discusses that decline and whether a policy response is needed. The drop in the private savings rate appears to reflect factors not easily reversible by policy and increases in...

In the 1980s, U.S. real investment in high technology equipment has grown rapidly while other components of business fixed investment have been weak. The surge in real high technology investment has been accompanied by a very sharp decline in its relative price, leading to difficult index number...

This paper examines the behavior of business fixed investment in the United States in the 1980s. A background discussion of the long-term behavior of the components of business fixed investment is provided, setting the context for the empirical analysis. A standard neoclassical model of business...

This paper examines the impact of the social security system on household saving in the United States. The theoretical properties of the transition period after large changes in benefits have not been sufficiently examined in earlier work; if the long-run result of a change is a fall in the...

The behavior of business fixed investment in the United States in the 1980s is examined. A background discussion of the long-term behavior of the components of business fixed investment is provided, setting the context for the empirical analysis. A standard neoclassical model of business fixed...

The provisions of the U. S. Tax Reform Act of 1986 (TRA) have potential effects on labor supply, household consumption and saving, and business fixed investment. The literature on the possible effects of tax reform is surveyed, and a model of U. S. business fixed investment is developed and...