Determining the factors affecting economic growth for countries is of significant interest to the macroeconomist. In his classic article from 1956, Robert Solow proposed the model that has since become the modern standard for economic development models. His growth model, the Solow growth model, assumes a neoclassical production function with diminishing returns to capital, i.e. total income Y ...

Economics needs no special excuse to study the determinants of saving. It is one of those perennial questions always on the agenda. I remember being taught that the Founding Fathers, among them Hume and Smith, had definite views about saving behavior. (I even think I remember being taught that they held a rather sociological theory--thrifty bourgeois merchants, spendthrift hereditary landlords-...

This study investigates the effects of gender on aggregate saving. We test the hypothesis that shifts in women’s relative income, which can affect their bargaining power within the household, have a discernible impact on household saving and, by extension, gross domestic saving, due to differing saving propensities by gender. The empirical analysis is based on panel data for a set of semi-indus...

We review a simple model of closed economy, where the economic agents make money transactions and a saving criterion is present. We observe the Gibbs distribution for zero saving propensity, and non-Gibbs distributions otherwise. While the exact solution in the case of zero saving propensity is already known to be given by the Gibbs distribution, here we provide the explicit analytical form of ...

The study examines the effect of transformation ratio in power transmission system on engine efficiency as a function of passenger vehicle velocity (m = 1400 kg) with energy-saving vehicle drive. The study also presents working range in driving phases for energy-saving speed control up to 120 km/h for a simplified overall engine performance map for SI engine. Understanding of the presented cons...

The high saving rate of China has attracted global attention. Furthermore, the saving rates of the Chinese elderly are especially high. Understanding why the elderly in China save at high rates is important for two reasons: (1) it partially explains the high aggregate saving rate in China, and (2) the fact that the elderly save more than the middle-aged contradicts the predictions of the life-c...

A techno-economic evaluation for efficient use of energy in a large scale industrial plant of methanol is carried out. This assessment is based on integration of a gas turbine with an existing plant of methanol in which the outlet gas products of exothermic reactor is expanded to power generation. Also, it is decided that methanol production rate is constant through addition of power generation...

A nation’s savings matters. Money set aside from today’s consumption can be invested, through financial markets, in productive assets embodying the latest innovations. A newer and better capital stock can provide the fuel to sustain higher rates of growth and improve living standards. In a nutshell, that’s the current view of many economists, one that places savings among the most important pil...