The Volatility Trap : Precautionary Saving, Investment, and Aggregate Risk /
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a "store-or-sow" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low investment, or a "volatility trap." Namely,...
| Главный автор: | |
|---|---|
| Другие авторы: | |
| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2012.
|
| Серии: | IMF Working Papers; Working Paper ;
No. 2012/134 |
| Online-ссылка: | Full text available on IMF |