Search Results
Journal Article
The saving mystery, or where did the money go?
Of great concern and puzzlement to many has been the decline in the U.S. personal saving rate. From 8 percent of personal income 20 years ago, saving has fallen to less than 4 percent. This is a matter of concern because saving and investment are closely linked, and investment is believed critical to productivity gains and a rising standard of living. The decline in saving is also a source of puzzlement because it runs counter to many people's perception of what is happening.> This article investigates the decline in saving, focusing on "where the money went." The authors find that rising ...