1 option
Theoretical Foundations of Buffer Stock Saving / Christopher Carroll.
- Format:
- Book
- Author/Creator:
- Carroll, Christopher.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w10867.
- NBER working paper series no. w10867
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2004.
- Summary:
- "Buffer-stock" versions of the dynamic stochastic optimizing model of saving are now standard in the consumption literature. This paper builds theoretical foundations for rigorous understanding of the main characteristics of buffer stock models, including the existence of a target level of wealth and the proposition that aggregate consumption growth equals aggregate income growth in a small open economy populated by buffer stock consumers.
- Notes:
- Print version record
- November 2004.
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