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In Australia, we debated the issue of sustainability of current account deficits extensively during the 1980s. A lot of the arguments that are being aired at the moment bear a striking similarity to the debate that occurred in Australia throughout the 1980s. Now, two decades on, by and large,...
Persistent link: https://www.econbiz.de/10005361384
Between the sixties and the late eighties the percentages of low-saving single-parent households and people living alone have grown dramatically at the expense of high-saving married households, while the household saving rate has declined equally dramatically. A preliminary analysis of...
Persistent link: https://www.econbiz.de/10005367646
The American Dream Demonstration, the largest collection of individual development account programs ever undertaken in the United States, has encouraging evidence that the poor can save. Could this be the future of asset development?
Persistent link: https://www.econbiz.de/10005367964
What are asset-development policies? What programs are underway to explore such policies? Larry Beeferman of the Asset Development Institute describes the movement and his views on why asset-development policies are vital to economic equality.
Persistent link: https://www.econbiz.de/10005368108
Psychological evidence indicates that a person's well-being depends not only on his current consumption of goods, but on a reference level determined by his past consumption. According to Kahneman and Tversky's (1979) prospect theory, people care much more about losses relative to their...
Persistent link: https://www.econbiz.de/10005368158
The economics literature offers competing hypotheses about the relationship between savings rates and output variability. This paper examines data for eight industrial countries to determine if there is a discernible pattern between savings rates and cyclical volatility of output. We find a...
Persistent link: https://www.econbiz.de/10005368180
This paper investigates why high income households in the United States save on average more than low income households in cross-section data. The three explanations considered are (1) age differences across households, (2) temporary earnings shocks, and (3) the structure of transfer payments....
Persistent link: https://www.econbiz.de/10005372783
Economists make extensive use of two separate descriptions of private saving behavior: the life-cycle (or overlapping generations) model, and models with intergenerational altruism. Analysis of the two frameworks is quite different, as are many of the long-run policy implications. This paper...
Persistent link: https://www.econbiz.de/10005372805
Persistent link: https://www.econbiz.de/10005372848
This paper examines entrepreneurship in order to analyze, first, the degree to which the opportunity to start or own a business affects the household's saving behavior and the implication of this behavior for the distribution of wealth and, second, the relationship between the extent of...
Persistent link: https://www.econbiz.de/10005372854