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equal to asset income less saving. If asset income is optimistic (curiosity revenue, income, dividends, imputed rent from proprietor-occupied housing, for example), it’s an inflow from the attitude of the owner of the asset. Asset earnings may be unfavorable , and on this instance is an outflow from the attitude of the proprietor of the legal responsibility and therefore a negative asset. Saving is an outflow, whereas dissaving, whether it includes the sale of an asset or the acquisition of debt, is an inflow. Stecklov, G. , ‘Evaluating the economic returns to childbearing in Côte d’Ivoire’, Population Studies, 53, 1–17. Lee, R. and A. Mason , ‘Some macroeconomic elements of global population aging’, Demography, forty seven, S151–S172. 5. Our assumption holds until this optimal amount would require a greater The hottest product dragonflies leather pattern all over print tote bagexpenditure than the mother and father are prepared to make, given their restricted altruism, by which case they may select some level of human capital lower than the optimal stage. three. Some surveys, such as the US Health and Retirement Survey , make a particular effort to elicit information on transfers. We have in contrast our estimates of inter-family transfers within the US primarily based on the Consumer Expenditure Survey to those derived from the HRS (Hurd et al. 2007) and, after adjustment to

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