Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk

DOI10.3982/ECTA13601zbMath1422.91489WikidataQ128480839 ScholiaQ128480839MaRDI QIDQ5225250

Lien Pham-Dao, Ralph Luetticke, Christian Bayer, Volker Tjaden

Publication date: 19 July 2019

Published in: Econometrica (Search for Journal in Brave)

zbMATH Keywords

incomplete marketsnominal rigiditiesuncertainty shocks

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

Related Items (7)

Unemployment risk, MPC heterogeneity, and business cycles ⋮ A hardware approach to value function iteration ⋮ Household balance sheet channels of monetary policy: a back of the envelope calculation for the euro area ⋮ Aggregating heterogeneous-agent models with permanent income shocks ⋮ Liquidity constraints and precautionary saving ⋮ Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk ⋮ Welfare effects of business cycles and monetary policies in a small open emerging economy

Cites Work

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• Uncertainty Shocks in a Model of Effective Demand
• A Model of the Consumption Response to Fiscal Stimulus Payments
• Really Uncertain Business Cycles
• Inflation Dynamics and Time-Varying Volatility: New Evidence and an Ss Interpretation *
• Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk

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