Carroll, Christopher; Slacalek, Jiri; Sommer, Martin - 2012
presence of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between 'target' and … suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …We argue that the U.S. personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and …