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Precautionary Wealth Accumulation Author info | Abstract | Publisher info | Download info | Related research | Statistics MARK HUGGETT
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When does an individual's expected wealth accumulation profile increase as earnings risk increases? This paper answers this question for multi-period models where earnings shocks are independent over time. Sufficient conditions are stated in terms of properties of a decision rule for savings and, alternatively, in terms of properties of preferences. Copyright 2004 The Review of Economic Studies Ltd.
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Article provided by Blackwell Publishing in its journal The Review of Economic Studies .
Volume (Year): 71 (2004)
Issue (Month): (07)
Pages: 769-781
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Handle: RePEc:bla:restud:v:71:y:2004:i::p:769-781Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6527
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Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Morissette, René & Ostrovsky, Yuri, 2005.
"The Instability of Family Earnings and Family Income in Canada, 1986 to 1991 and 1996 to 2001 ,"
Analytical Studies Branch Research Paper Series
2005265e, Statistics Canada, Analytical Studies Branch.
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Mark Huggett, .
"Precautionary Wealth Accumulation: A Positive Third Derivative is not Enough ,"
Working Papers
gueconwpa~03-03-11, Georgetown University, Department of Economics.
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Other versions: Christos Koulovatianos & Leonard J. Mirman & Marc Santugini, 2007.
"Optimal Growth and Uncertainty: Learning ,"
Cahiers de recherche
07-05, HEC Montréal, Institut d'économie appliquée, revised Feb 2008.
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Other versions: Christopher D. Carroll & Miles S. Kimball, 2006.
"Precautionary Saving and Precautionary Wealth ,"
Economics Working Paper Archive
530, The Johns Hopkins University,Department of Economics.
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Gilles Joseph & Thomas Weitzenblum, 2003.
"Optimal Unemployment Insurance: Transitional Dynamics vs. Steady State ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 6(4), pages 869-884, October.
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