result is derived without specifying income uncertainty, which can follow any kind of stochastically monotone process, and …

health care reform in the United States is a potentially important source of households' financial uncertainty. To quantify … the implications of this uncertainty for the real economy, this paper conducts an empirical analysis of the effect of … health care policy uncertainty (HCPU) on two channels of households' economic behavior: consumption and portfolio choice …

, while inattentive agents plan every other period. Infrequent planning increases uncertainty concerning future income or … uncertainty is future income, inattentive consumers will still accumulate more wealth. In contrast, in a version of the model …

, while inattentive agents plan every other period. Infrequent planning increases uncertainty concerning future income or … uncertainty is future income, inattentive consumers will still accumulate more wealth. In contrast, in a version of the model …

observability of individual components of income gives rise to additional precautionary saving because of uncertainty in estimating … individual components of income. This additional precautionary saving is higher, when there is greater uncertainty associated …

Economists working with numerical solutions to the optimal consumption/saving problem under uncertainty have long known … rigorous basis for the oft-noted similarity between the effects of introducing uncertainty and introducing constraints by … showing that in both cases the effects spring from the concavity in the consumption function which either uncertainty or …