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Dissecting Saving Dynamics: Measuring Wealth, Precautionary, and Credit Effects

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NBER2019-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w26131
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We show that an estimated tractable buffer stock saving model can match the 30-year decline in the U.S. saving rate leading up to 2007, the sharp increase during the Great Recession, and much of the intervening business cycle variation. In the model, saving depends on the gap between target and
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2019-08-01
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