Metadata only
Datum
2016-07-15Typ
- Working Paper
ETH Bibliographie
yes
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Abstract
We study how risk aversion affects precautionary savings when considering monotone recursive Kreps-Porteus preferences. In a general infinite-horizon setting, we prove that risk aversion unambiguously increases precautionary savings. The result is derived without specifying income uncertainty, which can follow any kind of stochastically monotone process, and accounting for possibly binding borrowing constraints. Mehr anzeigen
Publikationsstatus
publishedExterne Links
Zeitschrift / Serie
SSRNSeiten / Artikelnummer
Verlag
Social Science Research NetworkThema
Risk aversion; Precautionary savings; Recursive models; MonotonicityOrganisationseinheit
03877 - Bommier, Antoine / Bommier, Antoine
Zugehörige Publikationen und Daten
Is previous version of: http://hdl.handle.net/20.500.11850/305818
ETH Bibliographie
yes
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