'The great transformation'from customary exchange to impersonal markets is incomplete.
Reciprocal exchange pervades modern societies. It takes the form of 'gifts', reciprocated …

The importance of precautionary motives in explaining individual and aggregate saving* Page
1 Carnegie-Rochester Conference Series on Public Policy 40 (1994) 59-125 North-Holland The …

Consumption is the largest component of GDP. Since the 1950s, the life cycle and the
permanent income models have constituted the main analytical tools to the study of …

Why do rising incomes not make people happier? Some argue that it is because we quickly
become accustomed to our new acquisitions. Others would say that it is because relative …

In this survey, I summarize and evaluate the extant literature concerning taxation and
personal saving. I describe the theoretical models that economists have used to depict …

This paper provides historical series on the evolution of the share of inherited wealth in
aggregate private wealth in Europe (France, the UK, Germany, Sweden) and the USA over …

Taking a longer view than most literature on economic development, Richard A. Easterlin
stresses the enormous contrast between the collective experience of the last half century in …

This paper reviews the theoretical and empirical literature on the effects of taxation on
economic performance, adds marginally to the empirical literature, and draws conclusions …

Some ways in which farmers in LDCs can protect their living standards against fluctuations
in income are discussed. After considering the theory of consumption under uncertainty …

During the last three decades, the household has become the focus of a wide range of
sociodemographic processes, including the destabilization of traditional patterns of …