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 t...
| Main Authors: | , |
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| Format: | Book |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
©2012
Washington, D.C. : 2012 |
| Series: | IMF Working Papers ;
Working Paper No. 12/134 IMF Working Papers; Working Paper ; No. 2012/134 IMF eLibrary IMF working paper ; WP/12/134 |
| Subjects: |