Risky habits and the marginal propensity to consume output of permanent income, or, how much would a permanent tax cut boost Japanese consumption?

International Economic Journal

Volumn 14, Issue 4, 2000, Pages 1-40

  Carroll, Christopher D ^a  

^a JOHNS HOPKINS UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 85070120909     PISSN: 10168737     EISSN: 1743517X     Source Type: Journal    
DOI: 10.1080/10168730000000033     Document Type: Article

References (39)

1. Abel, Andrew B., 1990. Asset Prices under Habit Formation and Catching up with the Joneses. American Economic Review, 80 (2): 38–42.
2. Abel, Andrew B., 1999. Risk Premia and Term Premia in General Equilibrium. Journal of Monetary Economics, 43 (1): 3–333.
3. Attanasio, Orazio, Picci, Lucio, and Scorcu, Antonello. 2000. Saving, Growth, and Investment: A Macaroeconomic Analysis Using a Panel of Countries. Review of Economics and Statistics, 82 (1)
4. Blanchard, Olivier J., 1985. Debt, Deficits, and Finite Horizons. Journal of Political Economy, 93 (2): 223–247.
5. Bosworth, Barry. 1993. Saving and Investment in a Global Economy, Washington, D.C: The Brookings Institution.
6. Campbell, John Y., and Mankiw, N. Gregory. 1991. The Response of Consumption to Income: A Cross-Country In vestigation. European Economic Review, 35: 723–767.
7. Campbell, John Y., and Cochrane, John H., 1999. By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior. Journal of Political Economy, 107 (2): 205–251.
8. Carroll, Christopher D., 1992. The Buffer-Stock Theory of Savings: Some Macroeconomic Evidence. Brookings Papers on Economic Activity, 2 (2): 61–156.
9. Carroll, Christopher D., January 1996. “ Buffer Stock Saving: Some Theory ”. January, Manuscaript: Johns Hopkins University.
10. http://www.econ.jhu.edu/people/ccarroll/BufferTheory.pdf
11. Caroll, Christopher D., 1997. Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis. Quarterly Journal of Economics, CXII (1) January: 1–56.
12. http://www.econ.jhu.edu/people/ccarroll/BSLCPIH.pdf
13. Carroll, Christopher D., 1999. “ Precautionary Saving and the Marginal Propensity to Consume out of Permanent Income ”. Manuscaript: Johns Hopkins University.
14. Carrroll, Christopher D., “ Solving Consumption Models with Multiplicative Habits ”. In Economics Letter Forthcoming
15. http//www.econ.jhu.edu/people/ccarroll/HabitsEconLett.pdf
16. Carroll, Christopher D., and Kimball, Miles S., 1996. On the Concavity of the Consumption Function. Econometrica, 64: 981–992.
17. http//www.econ.jhu.edu/people/ccarroll/concavity.pdf
18. Carroll, Christopher D., Overland, Jody R., and Weill, David N., 2000. Saving and Growth with Habit Formation. American Economic Review, 90 (3): 1–15.
19. http//www.econ.jhu.edu/people/ccarroll/AERHabits.pdf
20. Carroll, Christopher D., and Summers, Lawrence H., 1991. “ Consumption Growth Parallels Income Growth: Some New Evidence ”. In National Saving and Economic Performance, Edited by: Bernheim, B. Douglas, and John, B. Shoven. Chicago: Chicago University Press.
21. Carroll, Christopher D., and Weil, David N., 1994. Saving and Growth: A Reinterpretation. Carnegie-Rochester Conference Series on Public Policy, 40: 133–192.
22. Constantinides, George M., 1990. Habbit Formation: A Resolution of the Equity Premium Puzzle. Journal of Political Economy, 98: 519–543.
23. Deaton, Angus S., 1991. Saving and Liquidity Constraints. Econometrica, 59: 1221–1248.
24. Deaton, Angus S., 1992. Understanding Consumption, New York: Oxford University Press.
25. Deaton, Angus S., and Paxson, Christina H., 1997. The Effects of Economic and Population Growth on National Saving and Inequalilty. Demography, 34 (1): 97–114.
26. Deaton, Angus S., 2000. Saving and Growth: Another Look at the Cohort Evidence. Review of Economics and Statistics, 82 (1)
27. Fuhrer, Jeffrey C., 2000. An Optimizing Model for Monetary Policy: Can Habit Formation Help?. American Economic Review, 90 (3)
28. Fuhrer, Jeffrey C., and Klein, Michael W., 1998. Risky Habits: On Risk Sharing, Habit Formation, and the Interpretation of International Consumption Correlations. NBER Working Paper, 90 (3) 6735
29. Hayashi, Fumio. “ Why Is Japan's Saving Rate So Apparently High? ”. In NBER Macroeconomics Annual 1986 NBER
30. Hayashi, Fumio. 1997. Understanding Saving: Evidence from the United States and Japan, Cambridge: The MIT Press.
31. Horioka, Charles Y., 1997. A Coinegration Analysis of the Impact of the Age Structure of Population on the Household Saving Rate in Japan. Review of Economics and Statistics, 79 (3): 511–516.
32. Horioka, Charles Y., 1997. Watanabe, Wako, Why Do People Save? A Micro-Analysis of Motives for Household Saving in Japan. Economic Journal, 107 (442): 537–552.
33. Jermann, Urban J., 1998. Assest Pricing in Productions Economies. Journal of Monetary Economics, 42 (2): 257–275.
34. Kimball, Miles S., 1990. Precautionary Saving and the Marginal Propensity to Consume. NBER Working Paper, 42 (2) 3403
35. Krusell, Per, and Smith, Anthony A., 1990. Income and Wealth Heterogeneity in the Macroeconomy. Journal of Political Economy, 106 (5): 867–896.
36. Loayza, Norman, Schmidt-Hebbel, Klaus, and Servén, Luis. 2000. What Drives Saving Across the World?. Review of Economics and Statistics, 82 (1)
37. Rodrik, Dani, Saving Transitions, Manuscript, Harvard University, 1999
38. Tobin, James, and William Fellner, Wiley. “ Life Cycle Saving and Balanced Growth ”. In Ten Economic Studies in the Tradition of Irving Fisher
39. Viard, A., 1993. The Productivity Slowdown and the Savings Shortfall: A Challenge to the Permanent Imcome Hypothesis. Economic Inquiry, 31 (1): 549–564.