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| Author: | Irvine, I. Wang, S. |
| Title: | Saving behavior and wealth accumulation in a pure lifecycle model with income uncertainty |
| Journal: | European Economic Review
2001 : FEB, VOL. 45:2, p. 233-258 |
| Index terms: | WEALTH INCOMES SAVINGS |
| Language: | eng |
| Abstract: | Several models of economic behavior currently compete for an explanation of individual wealth accumulation and savings patterns. In this paper the authors focus in particular upon the role of income uncertainty, and the role played by a retirement period, during which time-expected earnings are zero. The authors find that income uncertainty can alter savings patterns over the lifecycle significantly, with the greatest influence on the wealth of young individuals. |
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