... rate repre-sents a puzzle in search of a convincing economicexplanation, which is the subject of the followingsection.THE DECLINE OF THE PERSONALSAVING RATE: IS IT A PUZZLE? In economics, ... MA: MIT Press, 2000, pp. 374-86.Lusardi, Annamaria; Skinner, Jonathan and Venti,Steven. “Saving Puzzles and Saving Policies in theUnited States.” Oxford Review of Economic Policy,Spring 2001, ... EWNOVEMBER/DECEMBER20 0 7 491The Decline in the U.S. Personal Saving Rate:Is It Real and Is It a Puzzle? Massimo Guidolin and Elizabeth A. La JeunesseSince the mid-1990s, the national income and...