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article tries to close this gap by analyzing the development of Prussian savings banks' deposits in the late 19th century. The … introduction of social security can affect private savings in at least two different ways: on the one hand, it might induce … households to reduce their precautionary savings; one the other hand, it might give people a reason to reflect on their financial …
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The marginal propensity to consume out of wealth is important for evaluating the effects of taxation on consumption, assessing the possibility of multiple equilibria due to aggregate demand spillovers, and explaining observed variations in consumption. It is also a component of the interest...
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both 2008-2010 and 2010-2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings …
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