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 |
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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 |