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In the wake of the steep fall in the national savings due to economic shocks, among them the COVID-19 pandemic … countries. Most past empirical studies investigated the role of inflation on savings only in advanced nations. The current study … will investigate the effect of inflation on savings culture in Kenya. To determine how inflation explains saving, the study …
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We characterize the dynamics of the saving rate in an exogenous growth model where consumers exhibit present-biased preferences. Based on empirical evidence, we assume that consumers are subject to temptation and exhibit a preference for costly self-control. Moreover, we propose the intensity of...
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