Precautionary saving: A taxonomy of prudence
Date
2017
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Artículo
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8 p.
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Abstract
We extend Gunning (2010) by analyzing the effect of risk on saving. We derive a general prudence index that determines the threshold for the future risk that makes saving increase. We relate our results to the utility premium of Friedman–Savage.
Description
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Citation
Vergara, Marcos, (2017), Precautionary saving: A taxonomy of prudence, Economics Letters, 150, issue C, p. 18-20,
Keywords
Precautionary saving, General prudence index, Utility premium