Abstract
Economists suggest a variety of reasons that motivate household consumption and saving decisions. Theoretically, people base their consumption habits on the income they expect to receive over their entire lifetime. Seen in this perspective, household saving is a way of smoothing consumption in expectation of variations in income over shorter periods and temporary fluctuations, and over longer periods including saving for retirement and other events such as the education of children.
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Notes
Golda Meir, My Life, G.P. Putnam’s Sons, New York, 1975.
See D.N. Chorafas, Basel III, the Devil and Global Banking, Palgrave Macmillan, London, 2012.
Margaret Heffernan, Willful Blindness, Simon & Schuster, New York, 2011.
Jeffrey Sachs, The Price of Civilization: Reawakening American Virtue and Prosperity, Random House, New York, 2011.
See D.N. Chorafas, Globalization’s Limits: Conflicting National Interests in Trade and Finance, Gower, London, 2009.
See D.N. Chorafas, Wealth Management: Private Banking, Investment Decisions and Structured Financial Products, Butterworth-Heinemann, London and Boston, 2005.
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© 2013 Dimitris N. Chorafas
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Chorafas, D.N. (2013). Households and the Value of Money. In: Household Finance. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137299451_5
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DOI: https://doi.org/10.1057/9781137299451_5
Publisher Name: Palgrave Macmillan, London
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