impact of demographic factors, such as ageing and changing household composition, on saving behaviour. Not focusing on high … not clear cut. Contrary to the usual practice of considering the allocation of household income over consumption and … saving to be the result of one particular household’s member decision, we present here a more individually based analysis of …

simulate a generalization of the buffer-stock consumption model with longterm revolving debt contracts. In line with US credit …

This paper addresses the credit card debt puzzle using a generalization of the buffer-stock consumption model with long … can potentially soften a household's borrowing constraint in future periods, and thus provides extra liquidity. We show …

The vast majority of household wealth in the U.S. is held in illiquid assets, primarily housing, making households … of temptation and commitment is identified using data on consumption, liquid assets, and housing wealth over the life … need for commitment. Preference for illiquidity has important implications for the consumption response to unexpected …

We exploit inheritance episodes to provide novel causal evidence on long-run saving dynamics. For identification, we … impatient enough and have both strong precautionary and post-retirement saving motives. Relative to standard calibrations, such …

Long-run saving dynamics are a crucial component of consumption-saving behavior. This paper makes two contributions to … our findings through the lens of a generalized consumption-saving framework, and show that life-cycle consumption models … the consumption literature. First, we exploit inheritance episodes to provide novel causal evidence on the long …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity … households when the effect on household income is partly in the future. …

the household level, and find that the impact of the implied changes in liquidity on overall consumption is modest …This paper studies consumption and savings decisions of Danish households before and during the financial crisis as … well as in the more recent years characterized by negative policy rates. While all household groups decreased their …

Zealand Superannuation, on household saving rates. The age of eligibility was increased progressively from 60 to 65 years old …, particularly among middle-income and older households. The increase in saving rates is associated with higher household labour … between 1992 and 2001, with little forewarning. Drawing on Household Economic Survey data, the paper uses difference …

persistent current account surpluses were due primarily to Japan's large and persistent IS imbalances (the excess of saving over …