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Precautionary Wealth Accumulation Author info | Abstract | Publisher info | Download info | Related research | Statistics Mark Huggett () (Department of Economics, Georgetown University )
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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.
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Paper provided by Georgetown University, Department of Economics in its series Working Papers with number
gueconwpa~03-03-09.
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Date of creation: 01 Nov 2001Date of revision:
Handle: RePEc:geo:guwopa:gueconwpa~03-03-09Contact details of provider: Postal: Georgetown University Department of Economics Washington, DC 20057-1036 Phone: 202-687-6074 Fax: 202-687-6102 Email: Web page: http://econ.georgetown.edu/
Order Information: Postal: Marcia Suss Administrative Officer Georgetown University Department of Economics Washington, DC 20057-1036 Email: Web: http://econ.georgetown.edu/
For technical questions regarding this item, or to correct its listing, contact: (Marcia Suss).
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Find related papers by JEL classification: D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General D90 - Microeconomics - - Intertemporal Choice and Growth - - - General E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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References listed on IDEAS 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.: Carroll, Christopher D & Kimball, Miles S, 1996.
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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.)
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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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: 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.
[Downloadable!]
Christopher D. Carroll & Miles S. Kimball, 2006.
"Precautionary Saving and Precautionary Wealth ,"
Economics Working Paper Archive
530, The Johns Hopkins University,Department of Economics.
[Downloadable!]
Mark Huggett, .
"Precautionary Wealth Accumulation: A Positive Third Derivative is not Enough ,"
Working Papers
gueconwpa~03-03-11, Georgetown University, Department of Economics.
[Downloadable!]
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