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Corporate Retained Earnings and Personal Sector Saving: A Test of the Life- Cycle Hypothesis of Saving.
(Taylor & Francis, 1987-02)
The dynamic personal saving function proposed by Swamy (1968) nests in a common framework, the life-cycle hypothesis (LCH) and the Houthakker-Taylor (1970) model of saving. Having accounted for a limitation of the generality ...