Year: 1994
Type: article
Abstract: 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.
DOI: 10.2307/2118417
Author: S. Rao Aiyagari
Institution: Federal Reserve Bank of Minneapolis
Language: English
Topic: Economic theories and models
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2096218604