Risky Income, Life Cycle Consumption, and Precautionary Savings
收藏NBER1987-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w2336
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资源简介：
This paper argues that precautionary savings against uncertain income comprise a large fraction of aggregate savings. A closed-form approximation for life cycle consumption subject to uncertain interest rates and earnings is derived by taking a second-order Taylor-Series approximation of the Euler
提供机构：
美国国家经济研究局
创建时间：
1987-08-01
