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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,...
| Call Number: | Libro Electrónico |
|---|---|
| Main Authors: | , |
| Format: | Electronic eBook |
| Language: | Inglés |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
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| Series: | IMF working paper ;
WP/12/134. |
| Subjects: | |
| Online Access: | Texto completo |