Theoretical foundation of buffer stock saving
By: Christopher Carroll.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10867; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10867.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Buffer stocks.; Saving and investment.
Description: "'Buffer-stock' versions of the dynamic stochastic optimizing model of saving are now standard in the consumption literature.  This paper builds theoretical foundations for rigorous understanding of the main characteristics of buffer stock models, including the existence of a target level of wealth and the proposition that aggregate consumption growth equals aggregate income growth in a small open economy populated by buffer stock consumers"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/4/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.