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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Bibliographic Details
Main Author: Banerjee, Haimanti
Other Authors: Ventura, Gustavo
Format: Others
Language:English
Published: University of Iowa 2011
Subjects:
Online Access:https://ir.uiowa.edu/etd/1200
https://ir.uiowa.edu/cgi/viewcontent.cgi?article=2584&context=etd

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