sudden stops to occur at date two and asks whether individuals in such a shock-prone world are still better off borrowing …

in a world with heterogeneous financial development, the classic conclusion does not hold. In particular, in less …

mortality rate as found in many Third World populations, the net effect of a decline in mortality is to raise the growth rate …

considered three adverseimpacts of population growth on savings and capital formation........ …

Unlike the prediction of a frictionless open economy model, long-term average savings and investment rates are highly … that the calibrated model with both frictions produces a savings–investment correlation and a volume of capital flows close …

changes in household savings are negatively related to exogenous income shocks, with this relationship strongest for low … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …

(1990). This particular feature enables us to isolate the effect of risk aversion on precautionary savings. Furthermore, I … intertemporal distortions on precautionary savings in finite and infinite horizon models of a small open economy. The effects of … of shocks on precautionary savings and verify that these are qualitatively identical to the ones observed with CES …

-period dynamic model that under certain conditions nonbank intermediation increases an economy's savings mobilization and contributes … to banks in financial intermediation, increased the savings mobilization, and in the end contributed to the economic …