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4 We restrict our sample to households under age 50 because previous work (Carroll and Samwick (1997), Carroll (1997)) has argued that those consumers behave ...
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What is the theory of precautionary savings?
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Carroll, 1997. C.D. Carroll. Buffer stock saving ... How important is precautionary saving? Federal ... Precautionary saving in the small and in the large.
Jun 12, 2007 · Carroll, Christopher D., and Andrew A. Samwick (1997): “The. Nature of Precautionary Wealth,” Journal of Monetary Economics, 40(1),. 41–71.
Oct 15, 1996 · We estimate how much of the wealth of a sample of PSID respondents is held because some households face more income uncertainty than others.
However, this paper shows that if consumers are impatient and are subject to transitory as well as permanent shocks, the optimal marginal propensity to consume ...
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Aug 1, 1998 · We begin by solving a theoretical model of saving, which we use to develop appropriate measures of uncertainty. We then regress households' ...
two of the most commonly cited papers on precautionary saving (Carroll and Samwick (1997,. 1998)) to develop a proxy for income risk, which we include in the ...
This paper uses the Panel Study of Income Dynamics to provide some of the first direct evidence that wealth is systematically higher for consumers with greater ...
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We estimate how much of the wealth of a sample of respondents to the Panel Study of Income Dynamics is held because some households face more income ...
Zeldes, 1989; Angus Deaton, 1991; Carroll,. 1997). The functions imply that precautionary saving is important at low wealth levels: the mar- ginal propensity ...