Optimal Buffer Stocks and Precautionary Savings with Disappointment Aversion
收藏NBER1995-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w5361
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Developing countries use various risk reduction schemes, ranging from active management of buffer stocks and international reserves to commodity stabilization funds. The purpose of this paper is to reexamine the design of these schemes in a generalized expected utility maximization model where
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美国国家经济研究局创建时间：
1995-11-01
