Why Doesn't America Save?

Why Doesn't America Save?

"Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis" by Jagadeesh Gokhale,
Laurence J. Kotlikoff, and John Sabelhaus, in Brookings Papers on Economic Activity (1996: No. l), The Brookings Institution, 1775 Massachusetts Ave. N.W., Washington, D.C. 20036; "The Saving Mystery, or Where Did the Money Go?" by Lynn Elaine Browne with Joshua Gleason, in The New England Economic Review (Sept.-Oct. 1996), Federal Reserve Bank of Boston, P.O. Box 2076, Boston, Mass. 02106-2076.

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Are the baby boomers a generation of self-absorbed spendthrifts who must bear the blame for the alarming decline in national saving? No, argue these two studies.

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