This paper studies the effects that borrowing constraints have on savings and growth and argues that, though they … increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as … savings, investment, human capital accumulation and growth performance for industrialized countries is presented. A simple …

. The role of technical change as a driver of GDP growth, household income and average wage is highlighted. The model leads … expected technical change, the higher the firms's investment rate and the lower the households' savings rate, remaining …

-observed-financial crisis. There are several theories explaining this problem in the framework of consumption theory. Inequality in income … aggregate domestic savings as a ratio of GDP and GINI coefficient as an indicator of income inequality are tested under “Second …Savings problem has become a crucial issue since it is one of the reasons of today's frequently …

official statistics' point of view, households choosebetween spending, which generates additional income and consumption in the … between aggregate disposable income and consumption. It measures the change in net worth, which, in a closed economy, may only …

official statistics’ point of view, households choose between spending, which generates additional income and consumption in … difference between aggregate disposable income and consumption. It measures the change in net worth, which, in a closed economy …

This chapter reviews various interactions between the distribution of income across individuals and factors of … production on the one hand, and aggregate savings, investment, and macroeconomic growth on the other. Tractable models … scarce resources efficiently, and the dynamics of income and consumption distribution have no welfare implications. Other …