Theoretical foundations of buffer stock saving : [Version July 30, 2011]
- "Buffer-stock" models of saving are now standard in the consumption literature. This paper builds theoretical foundations for rigorous understanding of the main features of such models, including the existence of a target wealth ratio and the proposition that aggregate consumption growth equals aggregate income growth in a small open economy populated by buffer stock savers. JEL Classification: D81, D91, E21 Keywords: Precautionary Saving, Buffer Stock Saving, Marginal Propensity to Consume, Permanent Income Hypothesis
| Author: | Chris Carroll |
|---|---|
| URN: | urn:nbn:de:hebis:30-102399 |
| Parent Title (German): | Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2011,15 |
| Series (Serial Number): | CFS working paper series (2011, 15) |
| Document Type: | Working Paper |
| Language: | English |
| Year of Completion: | 2011 |
| Year of first Publication: | 2011 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2011/08/08 |
| Tag: | Buffer Stock Saving; Marginal Propensity to Consume; Permanent Income Hypothesis; Precautionary Saving |
| Issue: | Version July 30, 2011 |
| Page Number: | 63 |
| HeBIS-PPN: | 272542385 |
| Institutes: | Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS) |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Licence (German): |  Deutsches Urheberrecht |
