UNINSURED IDIOSYNCRATIC RISK AND AGGREGATE SAVING

Authors
AIYAGARI SR
Citation
Sr. Aiyagari, UNINSURED IDIOSYNCRATIC RISK AND AGGREGATE SAVING, The Quarterly journal of economics, 109(3), 1994, pp. 659-684
Citations number
50
Categorie Soggetti
Economics
Journal title
The Quarterly journal of economics → ACNP
ISSN journal
00335533
Volume
109
Issue
3
Year of publication
1994
Pages
659 - 684
Database
ISI
SICI code
0033-5533(1994)109:3<659:UIRAAS>2.0.ZU;2-Z
Abstract
We present a qualitative and quantitative analysis of the standard gro wth model modified to include precautionary saving motives and liquidi ty constraints. We address the impact on the aggregate saving rate, th e importance of asset trading to individuals, and the relative inequal ity of wealth and income distributions.