Strategic Saving and Non-Negative Gifts.

O'Connell and Zeldes (1993) have shown that the dynamic inefficiency result of a standard gift model is reversed if parents can undersave strategically. I impose an explicit non-negativity constraint on gifts, which - for all the numerical examples suggested by O'Connell and Zeldes - alters this result, by making gifts non-operative. However, for other realistic numerical examples, this is not the case.

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Year of publication:	1997
Authors:	Lagerlof, N-P
Institutions:	Institute for International Economic Studies (IIES), Stockholms Universitet
Subject:	SAVINGS \| HOUSEHOLD \| FISCAL POLICY

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Series:	Stockholm - International Economic Studies.
Type of publication:	Book / Working Paper
Notes:	18 pages
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; H31 - Household
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005638807