Consumption commitments and precautionary savings
In incomplete market models, agents with homothetic preferences over one non-durable consumption good and exposed to idiosyncratic income shocks use precautionary savings as an instrument to smooth consumption across different contingencies. The magnitude and role of precautionary savings is therefo...
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| Format: | Others |
| Language: | English |
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University of Iowa
2011
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| Online Access: | https://ir.uiowa.edu/etd/1200 https://ir.uiowa.edu/cgi/viewcontent.cgi?article=2584&context=etd |