Saving Behaviour in Stationary Equilibrium with Random Discounting.

In this paper we study the implications of random discount rates of future generations for saving behavior and capital holdings in steady-state competitive equilibrium. We examine conditions under which this randomness is sufficient for households other than the most patient to save, thus providing a simple and natural way to overcome a difficulty encountered in deterministic models.

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Year of publication:	1998
Authors:	Karni, E. ; Zilcha, I.
Institutions:	Foerder Institute for Economic Research, Eitan Berglas School of Economics
Subject:	SAVINGS \| GENERAL EQUILIBRIUM \| UNCERTAINTY

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Series:	Tel Aviv.
Type of publication:	Book / Working Paper
Notes:	21 pages
Classification:	D31 - Personal Income, Wealth and Their Distributions ; D80 - Information and Uncertainty. General ; E21 - Consumption; Saving ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005647287