Table of Contents
Saving, Consumption, and Wealth
National Wealth
Saving
National Saving
Total Saving
Developing Uses of Saving Identity
A short digression: the current account
Uses of Saving Identity
Figure 2.1 The uses-of-saving identity in the United States, 1980–1996
Sources of Investment Funds
Trade Deficit: Good or Bad?
Private Saving
Consumption and Saving
Determinants of consumption
Determinants of consumption
Determinants of consumption
Example of wealth effect
Determinants of consumption
Determinants of consumption
Determinants of consumption
Effect of government spending (financed by bonds) on national saving
Effect of government spending (financed by bonds) on national saving
Determinants of Consumption
Ricardian Equivalence
Problems with Ricardian Equivalence
Effect of taxes on national saving
Life-cycle model of consumption
Life Cycle Model
Implications of the life-cycle model
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Author: Edward McPhail
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