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Original Articles

Precautionary saving and the Deaton paradox

Pages 187-190 | Published online: 05 Oct 2010

References

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  • Deaton , A. 1987 . “ Life-cycle models of consumption: is the evidence consistent with the theory ” . In Advances in Econometrics Fifth World Congress , Edited by: Bewley , T. F. Vol. 2 , 121 – 148 . Cambridge : Cambridge University Press .
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  • Hall , R. E. 1978 . Stochastic implications of the life cycle-permanent income hypothesis: theory and evidence . Journal of Political Economy , 86 : 971 – 987 .
  • Leland , H. E. 1968 . Saving and uncertainty: the precautionary demand for saving . Quarterly Journal of Economics , 82 : 465 – 473 .
  • Marcet , A. 1991 . Solving non-linear stochastic models by parameterizing expectations: an application to asset pricing with production , Economics Working Paper 5 Universitat Pompeu Fabra .
  • Merton , R. C. 1971 . Optimum consumption and portfolio rules in a continuous time model . Journal of Economic Theory , 3 : 373 – 413 .

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