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Sunday, August 9, 2020 | History

3 edition of Theoretical foundations of buffer stock saving found in the catalog.

Theoretical foundations of buffer stock saving

Chris Carroll

Theoretical foundations of buffer stock saving

by Chris Carroll

  • 307 Want to read
  • 22 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Saving and investment -- Econometric models

  • Edition Notes

    StatementChristopher Carroll.
    SeriesNBER working paper series -- no. 10867., Working paper series (National Bureau of Economic Research) -- working paper no. 10867.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination41 p. :
    Number of Pages41
    ID Numbers
    Open LibraryOL21187801M
    OCLC/WorldCa57119811

    wealth in a buffer stock model. The test results do not support buffer stock behavior, even among population groups that are more likely, a priori, to display such behavior. The saving behavior of young households is instead consistent with models in which impatience, relative to prudence, is not as high as in buffer stock models. (JEL: D91) 1.   Richard C. Alkire is Professor Emeritus of Chemical & Biomolecular Engineering Charles and Dorothy Prizer Chair at the University of Illinois, Urbana, USA. He obtained his degrees at Lafayette College and University of California at Berkeley. He has received numerous prizes, including Vittorio de Nora Award and Lifetime National Associate award from National s: 1.

      Households in the west African semi-arid tropics face substantial risk -- an inevitable consequence of engaging in rainfed agriculture in a drought-prone environment. It has long been hypothesized that these households keep livestock as a buffer stock to insulate their consumption from income fluctuations income. This paper tests this hypothesis. The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence (Brookings Papers on Economic Activity, , No. 2) Abstract As I WRITE, the U.S. economy remains mired in the slowest recovery from.

    Conversely, the employment buffer stock approach represents a shift from spending on a quantity rule to spending on a price rule. Accordingly, the government offers a fixed wage (that is, a price) to anyone willing and able to work, and thereby lets market forces determine the total quantity of government spending that would be required to. Carroll, Christopher D. () Theoretical Foundations of Buffer Stock Saving. Working paper NBER. Working paper NBER. Cioppa, T.M. () Efficient Nearly Orthogonal And Space-Filling Experimental Designs For High-Dimensional Complex Models.


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Theoretical foundations of buffer stock saving by Chris Carroll Download PDF EPUB FB2

"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.

Abstract This paper builds theoretical foundations for rigorous and intuitive understanding of ‘buffer stock’ saving models, pairing each theoretical result with a quantitative exploration. After describing conditions under which the consumption function converges, the paper shows that ‘target’ saving behavior, which defines buffer stock saving, arises only under conditions.

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.

"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. Theoretical foundations of buffer stock saving. Christopher Carroll. No /15, CFS Working Paper Series from Center for Financial Studies (CFS) Abstract: Buffer-stock models of saving are now standard in the consumption literature.

This paper builds theoretical foundations for rigorous understanding of the main features of such models, including the existence of a target wealth ratio Cited by: Christopher D. Carroll, "Theoretical Foundations of Buffer Stock Saving," Economics Working Paper ArchiveThe Johns Hopkins University,Department of Economics.

Carroll, Christopher D., "Theoretical foundations of buffer stock saving," CFS Working Paper Series /15, Center for Financial Studies (CFS). Theoretical Foundations of Buffer Stock Saving* Christopher D.

Carroll1 J Abstract: “Buffer-stock” models of saving are now standard in the consumption literature. This paper builds theoretical foundations for rigorous understanding of the main features of such models.

Downloadable. "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.

Abstract "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.

Appendices A PerfectForesightLiquidityConstrainedSolution Under perfect foresight in the presence of a liquidity constraint requiring b 0, this. stock’ saving models, pairing each theoretical result with a quantitative exploration.

After economy populated by buffer stock savers. Together, the (provided) numerical tools and The paper also provides analytical foundations for other results that have become.

Theoretical Foundations of Buffer Stock Saving. Christopher Carroll. NoMeeting Papers from Society for Economic Dynamics Abstract: populated by buffer stock consumers. Date: References: View references in EconPapers View complete reference list from CitEc Citations: View citations in EconPapers (2) Track citations by RSS feed Downloads: (external link).

Abstract “Buffer-stock ” models of saving are now standard in the consumption literature. This paper builds theoretical foundations for rigorous understanding of the main features of such models, including the existence of a target wealth ratio and the proposition that aggregate consumption growth equals aggregate income growth in a small open economy populated by buffer stock savers.

Abstract “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 features of buffer stock models, including the existence of a target level of cash-to-permanent-income ratio and the proposition that aggregate consumption growth equals.

Get this from a library. Theoretical foundation of buffer stock saving. [Chris Carroll; National Bureau of Economic Research.]. Theoretical Foundations of Buffer Stock Saving.

Christopher D. Carroll Johns Hopkins University. Online resources related to this paper: Full paper and code. stock’ saving models, pairing each theoretical result with a quantitative exploration. After economy populated by buffer stock savers.

Together, the (provided) numerical tools and The theoretical foundations provided. Enter the password to open this PDF file: Cancel OK. File name:. However, neither theoretical consumption models commonly used for macroeconomic research' nor standard macroeconometric forecasting models2 provide a direct role for unemployment expectations in determining current consumption.3 By contrast, this paper shows that the "buffer-stock" model of saving that has evolved from the work of Stephen.

This important implication of the buffer stock model of saving has not been subject to direct empirical testing. We derive from the model an appropriate theoretical restriction and test it using data on working-age individuals drawn from the and Italian Surveys of.

Theoretical foundations of buffer stock saving. Manuscript, Department of Economics, Johns Hopkins University. Previous version was published as NBER Working Paper No. "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."buffer-stock" model of saving that has evolved from the work of Ste- phen Zeldes and Angus Deaton and from my previous work can imply a central role for unemployment expectations.4 In the buffer.