S. Rao Aiyagari, “Optimal capital income taxation with incomplete markets, borrowing constraints, and constant discounting,” Working Papers , Federal. We begin by discussing an example of a Bewley model due to Rao Aiyagari The Aiyagari model has been used to investigate many topics, including. S. Rao Aiyagari was 45 years old when he died in , just as his approach to further in Aiyagari () and (), has become a leading model for modern.
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Corrections All material on this site has been provided by the respective publishers and authors. These are the fields, ordered by number of announcements, along with their dates. Aiyagari, S 1949, A textbook treatment is available in chapter 18 of [LS18].
Uninsured Idiosyncratic Risk and Aggregate Saving
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The interest rate associated with a given demand for capital K. For a detailed discussion of DiscreteDP see this lecture. All material on this site has been provided by the respective publishers and authors.
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The Aiyagari Model – Quantitative Economics
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We have no references for this item. General contact details of provider: For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: RePEc uses bibliographic data supplied by the respective publishers. 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. Store values, set up grids over a and z self.
More information Research fields, statistics, top rankings, if available. The primary reference for this lecture is [Aiy94]. Help us Corrections Found an error or omission? How to read this lecture In this simple version of the model, households supply labor inelastically because they do not 1949 leisure. Economic Logic blog Statistics Access and download statistics.
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Multiplicity, optimality, and consumption smoothing ,” Journal of Economic TheoryElsevier, vol. We present a qualitative and quantitative analysis of the standard growth model modified to include precautionary saving motives and liquidity constraints.
S. Rao Aiyagari
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