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On the welfare cost of consumption fluctuations in the presence of memorable goods

Hai, Rong; Krueger, Dirk; Postlewaite, Andrew - 2013

. We construct a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …

Persistent link: https://www.econbiz.de/10010208579

Liquidity constraints versus loss aversion in household consumption : a simple reconciliation

Treeck, Till van - 2010

literature. Our findings can also be interpreted in the context of the secular decline in the US personal savings rate before the …

Persistent link: https://www.econbiz.de/10009306633

Dissecting saving dynamics : measuring wealth, precautionary, and credit effects

Carroll, Chris; Slacalek, Jirka; Sommer, Martin - 2012

We argue that the U.S. personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and recent substantial rise (2008-2011) can be interpreted using a parsimonious 'buffer stock' model of consumption in the presence of labor income uncertainty and credit...

Persistent link: https://www.econbiz.de/10009618873

Dissecting saving dynamics : measuring wealth, precautionary, and credit effects

Carroll, Chris; Slacalek, Jirka; Sommer, Martin - 2012

We argue that the US personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and recent substantial rise (2008-2011) can be interpreted using a parsimonious "buffer stock" model of consumption in the presence of labor income uncertainty and credit...

Persistent link: https://www.econbiz.de/10009622465