Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
- 1 February 1997
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 112 (1) , 1-55
- https://doi.org/10.1162/003355397555109
Abstract
This paper argues that the typical household's saving is better described by a “buffer-stock” version than by the traditional version of the Life CycKeywords
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