Matches in SemOpenAlex for { <https://semopenalex.org/work/W1985892228> ?p ?o ?g. }
Showing items 1 to 53 of
53
with 100 items per page.
- W1985892228 abstract "One of the basic motives for saving is the accumulation of wealth to insure future welfare. Both introspection and extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from the behaviour of these same households in the equivalent economy with complete-markets. The question we address in this article is whether we find this difference to be large in practice. What is the empirical importance of precautionary saving? We provide a simple decomposition that characterizes the importance of precautionary saving in the US economy. We use this decomposition as an organizing framework to present four main findings: (a) the concavity of the consumption policy rule, (b) the importance of precautionary saving for life-cycle saving and wealth accumulation, (c) the contribution of changes in risk to fluctuations in aggregate consumption and (d) the significant impact of incomplete markets on aggregate fluctuations in calibrated general equilibrium models. We conclude with directions for future research." @default.
- W1985892228 created "2016-06-24" @default.
- W1985892228 creator A5025966998 @default.
- W1985892228 creator A5050532576 @default.
- W1985892228 date "2001-02-01" @default.
- W1985892228 modified "2023-09-30" @default.
- W1985892228 title "The Empirical Importance of Precautionary Saving" @default.
- W1985892228 cites W2026605399 @default.
- W1985892228 cites W2081308191 @default.
- W1985892228 cites W2165613656 @default.
- W1985892228 cites W3122924543 @default.
- W1985892228 cites W3123919344 @default.
- W1985892228 cites W2120170284 @default.
- W1985892228 doi "https://doi.org/10.3386/w8107" @default.
- W1985892228 hasPublicationYear "2001" @default.
- W1985892228 type Work @default.
- W1985892228 sameAs 1985892228 @default.
- W1985892228 citedByCount "11" @default.
- W1985892228 countsByYear W19858922282012 @default.
- W1985892228 countsByYear W19858922282013 @default.
- W1985892228 countsByYear W19858922282015 @default.
- W1985892228 crossrefType "report" @default.
- W1985892228 hasAuthorship W1985892228A5025966998 @default.
- W1985892228 hasAuthorship W1985892228A5050532576 @default.
- W1985892228 hasBestOaLocation W19858922281 @default.
- W1985892228 hasConcept C144133560 @default.
- W1985892228 hasConcept C162324750 @default.
- W1985892228 hasConcept C18903297 @default.
- W1985892228 hasConcept C21016645 @default.
- W1985892228 hasConcept C86803240 @default.
- W1985892228 hasConceptScore W1985892228C144133560 @default.
- W1985892228 hasConceptScore W1985892228C162324750 @default.
- W1985892228 hasConceptScore W1985892228C18903297 @default.
- W1985892228 hasConceptScore W1985892228C21016645 @default.
- W1985892228 hasConceptScore W1985892228C86803240 @default.
- W1985892228 hasLocation W19858922281 @default.
- W1985892228 hasLocation W19858922282 @default.
- W1985892228 hasOpenAccess W1985892228 @default.
- W1985892228 hasPrimaryLocation W19858922281 @default.
- W1985892228 hasRelatedWork W1572172359 @default.
- W1985892228 hasRelatedWork W2096611693 @default.
- W1985892228 hasRelatedWork W2099140741 @default.
- W1985892228 hasRelatedWork W2260292653 @default.
- W1985892228 hasRelatedWork W2334717751 @default.
- W1985892228 hasRelatedWork W2899084033 @default.
- W1985892228 hasRelatedWork W2968746723 @default.
- W1985892228 hasRelatedWork W3124004864 @default.
- W1985892228 hasRelatedWork W3137470662 @default.
- W1985892228 hasRelatedWork W580922820 @default.
- W1985892228 isParatext "false" @default.
- W1985892228 isRetracted "false" @default.
- W1985892228 magId "1985892228" @default.
- W1985892228 workType "report" @default.