Saving and Liquidity Constraints.

This paper is concerned with the theory of saving when consumers are not permitted to borrow, and with the ability of such a theory to account for some of the stylized facts of saving behavior. The models presented in the paper seem to account for important aspects of reality that are not explained by traditional life-cycle models. Copyright 1991 by The Econometric Society.

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Year of publication:	1991
Authors:	Deaton, Angus
Published in:	Econometrica. - Econometric Society. - Vol. 59.1991, 5, p. 1221-48
Publisher:	Econometric Society

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005702422