Risk aversion and precautionary savings in dynamic settings
dc.contributor.author
Bommier, Antoine
dc.contributor.author
Le Grand, François Louis
dc.date.accessioned
2018-11-23T13:20:35Z
dc.date.available
2017-06-12T18:30:09Z
dc.date.available
2018-11-23T13:20:35Z
dc.date.issued
2016-07-15
dc.identifier.other
10.2139/ssrn.2809553
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/126435
dc.description.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.
en_US
dc.language.iso
en
en_US
dc.publisher
Social Science Research Network
dc.subject
Risk aversion
en_US
dc.subject
Precautionary savings
en_US
dc.subject
Recursive models
en_US
dc.subject
Monotonicity
en_US
dc.title
Risk aversion and precautionary savings in dynamic settings
en_US
dc.type
Working Paper
ethz.journal.title
SSRN
ethz.pages.start
2809553
ethz.size
15 p.
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D8 - Information, Knowledge, and Uncertainty::D80 - General
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D9 - Intertemporal Choice::D91 - Intertemporal Household Choice; Life Cycle Models and Saving
en_US
ethz.code.jel
JEL - JEL::E - Macroeconomics and Monetary Economics::E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy::E21 - Consumption; Saving; Wealth
en_US
ethz.publication.place
Rochester, NY
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03877 - Bommier, Antoine / Bommier, Antoine
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03877 - Bommier, Antoine / Bommier, Antoine
ethz.relation.isPreviousVersionOf
handle/20.500.11850/305818
ethz.date.deposited
2017-06-12T18:30:32Z
ethz.source
ECIT
ethz.identifier.importid
imp5936551fcaf2652206
ethz.ecitpid
pub:189173
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2017-07-12T18:02:37Z
ethz.rosetta.lastUpdated
2024-02-02T06:39:58Z
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