A new interpretation of the condition for precautionary saving in the presence of an interest-rate risk
This note reconsiders the classical problem of precautionary saving in the presence of an interest-rate risk, and provides a new interpretation of the threshold of 2 for the relative prudence index, which characterizes the necessary and sufficient condition for precautionary saving.
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| Veröffentlicht in: | Journal of economics (Vienna, Austria) Austria), 2017-01, Vol.120 (1), p.79-87 |
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| container_end_page | 87 |
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| container_title | Journal of economics (Vienna, Austria) |
| container_volume | 120 |
| creator | Magnani, Marco |
| description | This note reconsiders the classical problem of precautionary saving in the presence of an interest-rate risk, and provides a new interpretation of the threshold of 2 for the relative prudence index, which characterizes the necessary and sufficient condition for precautionary saving. |
| doi_str_mv | 10.1007/s00712-016-0496-2 |
| format | Article |
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| identifier | ISSN: 0931-8658 |
| ispartof | Journal of economics (Vienna, Austria), 2017-01, Vol.120 (1), p.79-87 |
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| language | eng |
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| source | Jstor Complete Legacy; Springer Nature - Complete Springer Journals; Business Source Complete |
| subjects | Consumption Economic models Economic theory Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Game Theory Interest rate risk Interest rates Macroeconomics/Monetary Economics//Financial Economics Microeconomics Public Finance Random variables Savings Social and Behav. Sciences Studies Utility functions |
| title | A new interpretation of the condition for precautionary saving in the presence of an interest-rate risk |
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