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Dissaving
Dissaving is negative saving. If spending is greater than disposable income, dissaving is taking place. This spending is financed by already accumulated savings, such as money in a savings account, or it can be borrowed. Household dissaving therefore corresponds to an absolute decrease in their financial investments. Usually dissavings start after retirement, when an individual starts deducting money from the amount that he has been saving during his life time. There are also other reasons for dissavings; like big purchases, huge events, and emergencies. On the macro level, also governments could reach a certain situation where they start dissaving from their accumulated funds. Why people save Savings is when an income contributor keeps a certain amount of the income on a side (saving account) and start having an accumulative amount of money based on their savings. People usually save money for certain reasons such as: 1- Emergencies are those unexpected emerging events that might ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saving (economics)
Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher; in economics more broadly, it refers to any income not used for immediate consumption. Saving does not automatically include interest. ''Saving'' differs from ''savings''. The former refers to the act of not consuming one's assets, whereas the latter refers to either multiple opportunities to reduce costs; or one's assets in the form of cash. Saving refers to an activity occurring over time, a flow variable, whereas savings refers to something that exists at any one time, a stock variable. This distinction is often misunderstood, and even professional economists and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intertemporal Consumption
Economic theories of intertemporal consumption seek to explain people's preferences in relation to consumption and saving over the course of their lives. The earliest work on the subject was by Irving Fisher and Roy Harrod, who described 'hump saving', hypothesizing that savings would be highest in the middle years of a person's life as they saved for retirement. In the 1950s, more well-defined models were built on discounted utility theory and approached the question of inter-temporal consumption as a lifetime income optimization problem. Solving this problem mathematically, assuming that individuals are rational and have access to complete markets, Modigliani & Brumberg (1954), Albert Ando, and Milton Friedman (1957) developed what became known as the life-cycle model. See for details. The life-cycle model of consumption suggests that consumption is based on average lifetime income instead of income at any given age. First, young people borrow to consume more than their incom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Autonomous Consumption
Autonomous consumption (also exogenous consumption) is the consumption expenditure that occurs when income levels are zero. Such consumption is considered autonomous of income only when expenditure on these consumables does not vary with changes in income; generally, it may be required to fund necessities and debt obligations. If income levels are actually zero, this consumption counts as dissaving, because it is financed by borrowing or using up savings. Autonomous consumption contrasts with induced consumption, in that it does not systematically fluctuate with income, whereas induced consumption does. The two are related, for all households, through the consumption function: :C = c_0 + c_1 Y_d where * ''C'' = total consumption, * ''c0'' = autonomous consumption (''c0'' > 0), * ''c1'' = the marginal propensity to consume (the gradient of induced consumption) (0 < ''c1'' < 1), and * ''Yd'' = disposable income (income after government taxes, benefits, and tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings Account
A savings account is a bank account at a retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditionally, transactions on savings accounts were widely recorded in a passbook, and were sometimes called passbook savings accounts, and bank statements were not provided; however, currently such transactions are commonly recorded electronically and accessible online. People deposit funds in savings account for a variety of reasons, including a safe place to hold their cash. Savings accounts normally pay interest as well: almost all of them accrue compound interest over time. Several countries require savings accounts to be protected by deposit insurance and some countries provide a government guarantee for at least a portion of the account balance. There are many types of savings accounts, often serving particular purposes. These can include accounts fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Marketing
The ''Journal of Marketing'' is a bimonthly scholarly journal that publishes peer-reviewed research in marketing. It is published by the American Marketing Association. Established in 1936, It is the fourth-oldest major journal covering marketing issues; the others are ''Harvard Business Review'' (1920), ''Journal of Retailing'' (1925), and ''Journal of Business'' (1928). Editors Hari Sridhar, Joe Foster ’56 Chair in Business Leadership and is Research Director of the Sales Leadership Institute at Mays Business School at Texas A&M University is Editor in Chief. He works with 3 coeditors, approximately 48 associate editors and an editorial review board to manage the journal's peer review and publication. Special issues The journal has published special issues on various topics over the years, including one on mapping the boundaries of marketing that was sponsored by the Marketing Science Institute. Awards The journal presents three article-focused honors on an annual basi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Albert Ando
was a Japanese-born economist. Biography He was born in Tokyo, as a member of family running Ando Corporation, a major construction company. He didn't join the family business, and came to the United States after World War II. He received his B.S. in economics from the Seattle University in 1951, his M.A. in economics from St. Louis University in 1953, and an M.S. in economics in 1956 and a Ph.D. in mathematical economics in 1959 from Carnegie Institute of Technology (now Carnegie Mellon University). At Carnegie Mellon he collaborated, among others, with Herbert A. Simon on questions regarding aggregation and causation in economic systems and with Franco Modigliani on the life cycle analysis of saving, spending, and income. Albert Ando was a tenured professor of economics and finance at the University of Pennsylvania from 1967 until his death from leukemia in 2002. Awards and fellowships * Ford Foundation Faculty Research Fellow, 1970 * Japan Foundation Fellow * Alexander ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franco Modigliani
Franco Modigliani (18 June 1918 – 25 September 2003) was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at University of Illinois at Urbana–Champaign, Carnegie Mellon University, and MIT Sloan School of Management. Early life and education Modigliani was born on 18 June 1918 in Rome, Lazio, Italy, to the Jewish family of a pediatrician father and a voluntary social worker mother."Franco Modigliani" by Daniel B. Klein and Ryan Daza, inThe Ideological Migration of the Economics Laureates, ''Econ Journal Watch'', 10(3), September 2013, pp. 472-293 He entered university at the age of seventeen, enrolling in the faculty of Law at the Sapienza University of Rome.Parisi, Daniela (2005) "Five Italian Articles Written by the Young Franco Modigliani (1937–1938)", ''Rivista Internazional di Scienze Sociali'', 113(4), pp. 555–557 (in language) In his second year at Sapienza, his submission to a nationwide conte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Economic Review
The ''American Economic Review'' is a monthly peer-reviewed academic journal published by the American Economic Association. First published in 1911, it is considered one of the most prestigious and highly distinguished journals in the field of economics. The current editor-in-chief is Esther Duflo, an economic professor at the Massachusetts Institute of Technology. The journal is based in Pittsburgh. In 2004, the ''American Economic Review'' began requiring "data and code sufficient to permit replication" of a paper's results, which is then posted on the journal's website. Exceptions are made for proprietary data. Until 2017, the May issue of the ''American Economic Review'', titled the ''Papers and Proceedings'' issue, featured the papers presented at the American Economic Association's annual meeting that January. After being selected for presentation, the papers in the ''Papers and Proceedings'' issue did not undergo a formal process of peer review. Starting in 2018, papers pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fumio Hayashi
is a Japanese economist. He is a professor at the National Graduate Institute for Policy Studies (GRIPS) in Tokyo. Hayashi received his Bachelor of Arts from the University of Tokyo and his Ph.D. from Harvard University in 1980. He has taught at Northwestern University, the University of Tokyo, the University of Tsukuba, Osaka University, the University of Pennsylvania, Columbia University, and Hitotsubashi University. Hayashi is the author of a standard graduate-level textbook on econometrics . He was a Fellow of the Econometric Society since 1988. He was awarded the inaugural Nakahara Prize in 1995. He was elected as foreign honorary member of the American Academy of Arts and Sciences in 2005 and the American Economic Association in 2020. Selected publications Books * * Journal articles * * * References External links Personal websiteFaculty profileat GRIPS The , or GRIPS, is an elite, highly selective research graduate school located in Minato, Tokyo. Funded ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Ferris (economist)
Richard Ferris (died 1649, aged 67) was a wealthy merchant from Barnstaple in Devon, England who served as a Member of Parliament for Barnstaple in 1640 and served twice as Mayor of Barnstaple in 1632 and 1646.Lamplugh, p. 156. He founded the Barnstaple Grammar School, otherwise known as the "Blue School". Origins Ferris was born at Barnstaple, the son of Philip Ferris by his wife Thomasyn Cade. The armorials displayed on his monument in St Peter's Church, Barnstaple (''Or, on a bend sable three horse-shoes argent'') are the canting arms of the ancient Ferrers family seated from the 12th century at Bere Ferrers in Devon, where they had their castle, Risdon, Tristram (d.1640), Survey of Devon, 1811 edition, London, 1811, with 1810 Additions, p. 210. which also held the manors of Churston Ferrers and Newton Ferrers with many others in Devon. The Devonshire historian Pole (d.1635), stated: , and states that (i.e. Henry II (1154–1189)).Pole, p. 336. However the senior mal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Horioka
Charles Yuji Horioka (born September 7, 1956, in Boston, Massachusetts) is a Japanese-American economist residing in Japan. Horioka received his B.A. and Ph.D. degrees from Harvard University and is currently professor at the Research Institute for Economics and Business Administration, Kobe University, Kobe, Japan. He is concurrently distinguished research professor and director at the Asian Growth Research Institute (Kitakyushu City, Japan) and invited professor and professor emeritus at the Institute of Social and Economic Research, Osaka University (Osaka, Japan). Previously, he taught at Stanford, Columbia, Kyoto, and Osaka Universities and the University of the Philippines, Diliman, where he was Vea Family Professor of Technology and Evolutionary Economics Centennial. He became president of the Society of Economics of the Household (SEHO) in 2021, vice-president of the Japanese Economic Association in 2022, and council member of the International Association for Research ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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