Table of Contents

Contents:
Preface
1. The Economics Legacy of Albert Ando
Lawrence R. Klein
2. The Age–Saving Profile and the Life-Cycle Hypothesis
Tullio Jappelli and Franco Modigliani
3. Do Capital Gains Affect Consumption? Estimates of Wealth Effects from Italian Households’ Behavior
Luigi Guiso, Monica Paiella and Ignazio Visco
4. Demographic Changes, Reforms to the Social Security System and Private Savings in Italy
Sergio Nicoletti-Altimari
5. Do the Elderly Dissave in Japan?
Charles Yuji Horioka
6. On Robust Monetary Policy
Filippo Altissimo, Stefano Siviero and Daniele Terlizzese
7. The Euro and the Transmission of Monetary Policy
Ignazio Angeloni and Michael Ehrmann
8. Monetary and Fiscal Policy in a Liquidity Trap
Alan J. Auerbach and Maurice Obstfeld
9. A Three-Factor Yield Curve Model: Non-Affine Structure, Systematic Risk Sources and Generalized Duration
Francis X. Diebold, Lei Ji and Canlin Li
10. The Over-Investment Hypothesis
Fumio Hayashi
11. Designing Indexed Units of Account
Robert J. Shiller
12. Land Prices and Business Fixed Investment in Japan
Nobuhiro Kiyotaki and Kenneth D. West
13. Rationality, Behavior and Switching Idiosyncracies in the Euro–Dollar Exchange Rate
Gabriella Cagliesi and Massimo Tivegna
Index

About the Author

Edited by the late Lawrence R. Klein, former Benjamin Franklin Professor of Economics Emeritus, University of Pennsylvania, US and 1980 Nobel Laureate in Economic Sciences