This note reconsiders the classical problem of precautionary saving in the presence of an interest-rate risk, and provides a new interpretation of the threshold of 2 for the relative prudence index, which characterizes the necessary and sufficient condition for precautionary saving.
A new interpretation of the condition for precautionary saving in the presence of an interest-rate risk / Magnani, Marco. - In: JOURNAL OF ECONOMICS. - ISSN 0931-8658. - 120:1(2017), pp. 79-87. [10.1007/s00712-016-0496-2]
A new interpretation of the condition for precautionary saving in the presence of an interest-rate risk
MAGNANI, Marco
2017-01-01
Abstract
This note reconsiders the classical problem of precautionary saving in the presence of an interest-rate risk, and provides a new interpretation of the threshold of 2 for the relative prudence index, which characterizes the necessary and sufficient condition for precautionary saving.File in questo prodotto:
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