Savings and Nutrition at Low Incomes
从营养影响生存概率和工人生产率两个角度，论证低收入群体储蓄倾向随收入上升而提高，并探讨其对效率工资理论、失业及储蓄函数计量设定的意义。
While many development theorists assume saving propensities vary among different groups, there has been limited theoretical justification for this view. This paper analyzes two complementary theories stressing the effect on saving of physiological consequences of poor nutrition at low incomes. One influence is on the probability of survival; another is on workers' productivity. Either effect means that the average propensity to save can rise with income. Issues considered include annuities, exogenous changes in survival and efficiency, implications for the efficiency wage theory of unemployment, and distinctions between wage and nonwage income. Implications of nutritional effects for econometric specification of saving functions are stressed.