Excel Sheet for "Consumption With Uncertainty and Financial Markets for Saving/Borrowing"
We introduce markets for saving and borrowing, allowing the consumer to allocate across time (but not states). The results can be compared to the benchmark in Part III to show how saving/borrowing can improve economic wellbeing, and with Part II to illustrate the concept of precautionary saving (i.e., saving as partial substitute for insurance). The model is described in Guo and Gilbert (2014) "Demystifying Financial Markets for Saving and Insurance With Numerical Models" Journal of Economic Education.
|Date of creation:||30 Sep 2013|
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