Precautionary Saving and Consumption Fluctuations
نویسندگان
چکیده
منابع مشابه
Precautionary Saving and Consumption Fluctuations∗
This paper uses the consumption Euler equation to derive a decomposition of consumption growth into four sources. These are new information and three sources of predictable consumption growth: intertemporal substitution, changes in the preferences for consumption, and incomplete markets for consumption insurance. Using data on the expenditures of households, we implement the decomposition for t...
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This is an entry for The New Palgrave Dictionary of Economics, 2nd Ed.
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.525063