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Uninsured Idiosyncratic Risk and Aggregate Saving

Listed author(s):
  • S. Rao Aiyagari

We present a qualitative and quantitative analysis of the standard growth model modified to include precautionary saving motives and liquidity constraints. We address the impact on the aggregate saving rate, the importance of asset trading to individuals, and the relative inequality of wealth and income distributions.

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File URL: http://hdl.handle.net/10.2307/2118417
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Article provided by Oxford University Press in its journal The Quarterly Journal of Economics.

Volume (Year): 109 (1994)
Issue (Month): 3 ()
Pages: 659-684

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Handle: RePEc:oup:qjecon:v:109:y:1994:i:3:p:659-684.
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  1. Recursive Macroeconomic Theory

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