International Finance Discussion Papers: Precautionary Portfolio Behavior from a Life-Cycle Perspective by Michael Haliassos, Carol C. Bertaut

International Finance Discussion Papers: Precautionary Portfolio Behavior from a Life-Cycle Perspective

Michael Haliassos, Carol C. Bertaut

48 pages missing pub info (editions)

nonfiction politics
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The literature on asset accumulation by households draws a sharp distinction between "short-run" precautionary motives to buffer annual consumption from annual labor income shocks, and "long-run" life cycle considerations under labor income certai...

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