The importance of precautionary motives in explaining individual and aggregate saving
Важность мотивов предосторожности для объяснения индивидуальных и совокупных сбережений
1994-06-01
SCID: 54.1/b7asctna
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aggregate savingearnings uncertaintylife-cycle simulation modelmedical expenditure uncertaintyprecautionary motives
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Abstract (AI)
This paper examines predictions of a life-cycle simulation model — in which individuals face uncertainty regarding thier length of life, earnings, and out-of- pocket medical expenditures, and imperfect insurance and lending markets — for
Key Findings
1
The model includes imperfect insurance and lending markets, allowing precautionary motives to influence individual saving behavior.
2
The paper evaluates a life-cycle simulation model incorporating uncertainty about longevity, earnings, and out-of-pocket medical expenses.
3
The study examines whether precautionary motives help explain both individual saving decisions and aggregate saving patterns.
Research Object
individual and aggregate saving in a life-cycle model with uncertain longevity, earnings, and out-of-pocket medical expenditures under imperfect insurance and lending markets
Research Subject
the role of precautionary motives in determining saving behavior and aggregate saving
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1994-06-01
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