The composition of Italian household wealth has undergone significant changes in the last decade, partly reflecting the growth of public debt and monetary policies aimed at encouraging its absorption by the household sector. Within a theoretical framework consistent with the quot;money in the...

This paper provides empirical evidence on the determinants of private saving in a sample of 49 developing countries over the period 1973-83. The evidence indicates that, as indicated by the theory, a positive relationship exists between the rate of growth of consumption and the expected real...

A firm theoretical basis for the empirical relationship between dependency rates and savings behavior in developing countries is still lacking. Two demographic extensions of the representative household`s stochastic dynamic optimization problem are presented here. It is shown that the...

This paper discusses, estimates and formally compares the best known procedures for incorporating demographic variables into complete demand systems. In particular, a class of general procedures belonging to Gorman's family of 'general linear household technologies' is introduced. Estimation and...