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| Author: | Browning, M. Lusardi, A. |
| Title: | Household saving: micro theories and micro facts |
| Journal: | Journal of Economic Literature
1996 : DEC, VOL. 34:4, p. 1797-1855 |
| Index terms: | ECONOMICS HOUSEHOLD ECONOMICS SAVINGS |
| Language: | eng |
| Abstract: | Why do people save? The article reviews some of the modern theory of saving and then presents some facts concerning saving by U.S. households. Section 4 deals with one specific phenomenon: the apparent decline in the U.S. saving rate in the recent past. Some explanations for the decline in an ad hoc way are discussed. In sections 5 and 6 the authors consider some of the evidence for and against various theories of consumption, concentrating on the short-run allocation of funds over time as well as on the longer run. |
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