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Secular Movements in U.S. Saving and Consumption

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Author Info
Kaiji Chen () (Economics University of Oslo)
Ayse Imrohoroglu
Selahattin Imrohoroglu

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Abstract

The U.S. national saving rate has been declining since the 1960s while the share of consumption in output has been increasing. We explore if a standard growth model can explain the secular movements observed in this time period. Our quantitative findings indicate that the standard neoclassical growth model is able to generate saving rates and consumption that are remarkably similar to the data during 1960-2004

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File URL: http://repec.org/sed2006/up.14040.1138867663.pdf
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Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 154.

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Date of creation: 03 Dec 2006
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Handle: RePEc:red:sed006:154

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Related research
Keywords: U.S. consumption; saving; TFP;

Find related papers by JEL classification:
E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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This page was last updated on 2009-10-30.

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