It's All About Wealth

Susan M Sterne

Business Economics, 2005, vol. 40, issue 3, 36-40

Abstract: The saving rate and amount of consumer savings has taken on heightened importance in both the cyclical and secular settings. Does the current low consumer saving rate imply that spending must grow less than income in coming months, therefore slowing economic growth? Does the large and soon-to-reach-retirementage Post WW II baby boom population have enough savings to continue to support consumption and economic growth over the next decade? To answer these questions, we first look at how well the standard NIPA saving rate measures savings, and we find it inadequate. We then turn to the more difficult task of determining the amount and adequacy of consumer savings for the large, soon–to–retire baby boom population.Business Economics (2005) 40, 36–40; doi:10.2145/20050305

Date: 2005
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