This high “double” tax distorted all sorts of behavior–inducing heavy reliance on risky debt finance, for example–and likely caused more economic damage dollar-for-dollar than any other ...

Christopher D. Carroll, A Theory of the Consumption Function, with and without Liquidity Constraints, The Journal of Economic Perspectives, Vol. 15, No. 3 (Summer, 2001), pp. 23-45 ...

Economic theories predict that age influences individuals' saving and consumption behaviour. Despite this, age structure effects are rarely controlled for in empirical consumption functions.