Precautionary Savings in a Small Open Economy Revisited

Precautionary Savings in a Small Open Economy Revisited
A common assumption in standard economic models is that agents are risk-averse and prudent, and it is often argued that prudence is necessary to generate precautionary savings. This paper shows that prudence is not necessary to generate precautionary savings in small open economy models with more than two periods. A new class of preferences,... READ MORE...

Publication date: November 2011
ISBN 9781463923358
$18.00

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