Earnings Uncertainty and Aggregate Wealth Accumulation
论证不可保险的收入不确定性导致的预防性储蓄可能是总财富积累的重要来源，其模型可解释美国净财富中超过60%的部分。
This paper argues that precautionary savings due to uninsurable earnings uncertainty are likely to be an important source of aggregate wealth accumulation. The stylized model presented in this paper can easily generate levels of wealth above 60 percent of the observed net wealth in the United States, net of conventional life-cycle savings. Copyright 1991 by American Economic Association.