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Konsequenzen des Zins- und Einkommensrisikos auf das wirtschaftliche Wachstum

  • Clemens, Christiane
  • Soretz, Susanne

Der vorliegende Beitrag analysiert den Einfluß von aggregierten Produktivitätsschocks auf die intertemporale Entscheidung risikoaverser Agenten. Dabei stehen insbesondere die Auswirkungen auf das langfristige Wachstum der Ökonomie im Vordergrund der Betrachtungen. Es wird gezeigt, daß neben der Höhe der individuellen Risikoneigung auch die Quelle der stochastischen Einkommen eine wesentliche Determinante für die Wirkungsrichtung der Zufallseinflüsse ist. Eine Erhöhung der Ersparnis beeinflußt sowohl den Erwartungswert als auch die Volatilität zukünftiger Einkommensströme. Aus diesem Grund führt das Zinsrisiko zu einem anderen individuellen Anpassungsverhalten als das Einkommensrisiko.

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Paper provided by Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät in its series Hannover Economic Papers (HEP) with number dp-221.

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Length: 22 pages
Date of creation: Mar 1999
Date of revision:
Handle: RePEc:han:dpaper:dp-221
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