Dissecting Saving Dynamics: Measuring Wealth, Precautionary, and Credit Effects (PDF Download)

We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious 'buffer stock' model of optimal consumption in the...

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Bibliographische Detailangaben

Hauptverfasser:	Sommer, Martin, Carroll, Christopher
Format:	Buch
Sprache:	eng
Schlagworte:	Credit Credit restraint Economic models Income Private savings Saving and investment Wealth
Online-Zugang:	Volltext
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