Kennickell, Arthur; Lusardi, Annamaria - Center for Financial Studies - 2006
Keywords: Risk, Buffer-stock Models of Saving, Old Cohorts Wealth, Business Owners
Wealth
1. Introduction
One of the … savings. Our theoretical framework of reference is the ‘buffer-stock’ model, which
we summarize below.
3.1 The “Buffer …-Stock” Model of Saving
The theoretical model that has guided our empirical work is the “buffer-stock” model of
saving, as derived …