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Secular Movements in U.S. Saving and Consumption

Kaiji Chen (), Ayse Imrohoroglu () and Selahattin Imrohoroglu ()

No 154, 2006 Meeting Papers from Society for Economic Dynamics

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

Keywords: U.S. consumption; saving; TFP (search for similar items in EconPapers)
JEL-codes: E21 (search for similar items in EconPapers)
Date: 2006-12-03
New Economics Papers: this item is included in nep-dge and nep-mac
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