This paper examines the existence problem of the stationary state that maximizes per capita utility in Samuelson-D iamond model of overlapping generations combined with the post-Keynesian model o f capital growth. Since in a life-cycle consumption model the consumer's decisio n depends on...

The paper estimates Japan's household saving rate function for the 1958−1998 period. We find that the contribution of the increase in net financial assets to the fall of the saving rate varies directly with the amount of assets. This has overwhelmed other factors and has caused the saving rate...