Saving And Liquidity Constraints
AbstractThis 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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Bibliographic InfoPaper provided by Princeton, Woodrow Wilson School - Public and International Affairs in its series Papers with number 153.
Length: 38 pages
Date of creation: 1989
Date of revision:
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Postal: PRINCETON UNIVERSITY, WOODROW WILSON SCHOOL OF PUBLIC AND INTERNATIONAL AFFAIRS, PRINCETON NEW- JERSEY 08542 U.S.A.
Phone: (609) 258-4800
Web page: http://www.wws.princeton.edu/
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savings ; borrowing ; consumption ; liquidity;
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