Uninsured Idiosyncratic Risk and Aggregate Saving
在标准增长模型中引入预防性储蓄动机和流动性约束，分析其对总储蓄率、个人资产交易重要性以及财富和收入分配不平等的影响。
We present a qualitative and quantitative analysis of the standard growth model modified to include precautionary saving motives and liquidity constraints. We address the impact on the aggregate saving rate, the importance of asset trading to individuals, and the relative inequality of wealth and income distributions.