You can check the article but that is my memory (I'm at home now and can't check the
article myself). When they added capital gains in real estate and equities to the flow
of savings to get change in wealth they got high savings rates. - - Bill
William T. Dickens
The Brookings Institution
1775 Massachusetts Avenue, NW
Washington, DC 20036
Phone: (202) 797-6113
FAX: (202) 797-6181
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AOL IM: wtdickens
>>> [EMAIL PROTECTED] 08/12/02 15:38 PM >>>
William Dickens wrote:
> Gale and Sabelhaus do not answer the question that you ask but they do look at
>the question of whether savings rates are low if we define savings as change in
>wealth rather than income minus consumption. They conclude that were (at least at the
>time of the article) extremely high.
They conclude that savings rates were extremely high?
--
Prof. Bryan Caplan
Department of Economics George Mason University
http://www.bcaplan.com [EMAIL PROTECTED]
"He wrote a letter, but did not post it because he felt that no one
would have understood what he wanted to say, and besides it was not
necessary that anyone but himself should understand it."
Leo Tolstoy, *The Cossacks*
