Uninsured Idiosyncratic Risk and Aggregate Saving.

The author presents a qualitative and quantitative analysis of the standard growth model modified to include precautionary saving motives and liquidity constraints. He addresses the impact on the aggregate saving rate, the importance of asset trading to individuals, and the relative inequality of wealth and income distributions. Copyright 1994, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Year of publication:	1994
Authors:	Aiyagari, S Rao
Published in:	The Quarterly Journal of Economics. - MIT Press. - Vol. 109.1994, 3, p. 659-84
Publisher:	MIT Press

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

Persistent link: https://www.econbiz.de/10005075874