, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there …

This paper analyzes anew the relationship between taxation and the household saving rate. On the basis of standard … of taxes on household savings. In particular, income taxes are shown to affect negatively the household saving rate much … more than consumption taxes. …

In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …

This paper analyzes anew the relationship between taxation and the household saving rate. On the basis of standard … of taxes on household savings. In particular, income taxes are shown to affect negatively the household saving rate much … more than consumption taxes. …

This essay first reviews the basic empirical predictions of the life cycle hypothesis of consumption, namely that … individuals should try to smooth intertemporally the marginal utility of consumption, that young workers should be accumulating …

Empirical evidence suggests that it may cost time, effort, and resources to implement an optimal consumption-saving … important in complementing the existing theories to help account for these consumption and saving facts in a unified framework. … documenting a series of facts on consumption and savings over the life cycle, each of which goes against the prediction of the …

We argue that the US personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … recent substantial rise (2008-2011) can be interpreted using a parsimonious buffer stock model of consumption in the presence … of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between target and actual …

instability are found to have a significant impact on aggregate consumption and savings, and explain a large part of poor Israeli …

Saving behavior at the household level in Chile has not been analyzed in recent decades. Based on 1988 and 1996 …-1997 Chilean microeconomic evidence (Household Budget Survey), this article studies household saving behavior. The analysis is …

It is widely claimed that housing wealth, as well as stock prices, have an impact on consumption and hence on aggregate … recent research in behavioral economics. Particular attention is paid to a model of the response of consumption to wealth …