| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9608 |
| DP9608 Precautionary Saving over the Business Cycle | |
| Xavier Ragot; Edouard Challe | |
| 发表日期 | 2013-08-18 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We study the macroeconomic implications of time-varying precautionary saving within a general equilibrium model with borrowing constraint and both aggregate shocks and uninsurable idiosyncratic unemployement risk. Our framework generates limited cross-sectional household heterogeneity as an equilibrium outcome, thereby making it possible to analyse the role of precautionary saving over the business cycle in an analytically tractable way. The time-series behaviour of aggregate consumption generated by our model is much closer to the data than that implied by the comparable hand-to-mouth and representative-agent models, and comparable to that produced by the (intractable) Krusell-Smith (1998) model. |
| 主题 | International Macroeconomics |
| URL | https://cepr.org/publications/dp9608 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538443 |
| 推荐引用方式 GB/T 7714 | Xavier Ragot,Edouard Challe. DP9608 Precautionary Saving over the Business Cycle. 2013. |
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