precautionary saving motive in a two-period model with Kreps-Porteus preferences. For small risks, we derive a measure of the … strength of the precautionary saving motive, which generalizes the concept of ‘prudence’ introduced by Kimball (1990b). For … large risks, we show that decreasing absolute risk aversion guarantees that the precautionary saving motive is stronger than …

fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry … reminders may increase saving, and that reminders will be more effective when they increase the salience of a specific …

The relationship between the demographic structure and the saving rate of a society is the reflection of the … of the processes generating income, social security wealth, retirement and consumption behaviour of households, and … evolution of aggregate income, saving and asset accumulation over the period 1994-2100. If fertility and mortality assumptions …

-1980s. This paper has three main findings. First, the decline in saving started in 1983, a couple of years earlier than … increased their consumption. Finally, the rapid increase in housing prices in 1985-86 may have been an important determinant of … older and retired households' saving through reversed mortgages, but cannot on its own explain the decline in savings that …

, agents’ prior beliefs are endogenously heterogeneous. Finally, in a consumption-saving problem with stochastic income, agents …

future policy reversal lowers the consumption rate of interest and thus will increase current consumption. Furthermore, to …

consumption model and the Method of Simulated Moments. The model includes stochastic labor income, liquidity constraints, child …-run and long-run discount rates to differ. Data on retirement wealth accumulation, credit card borrowing, and consumption …