Can Rational Individuals Keep Money under Their Mattresses Forever?

Michael Spagat ()

Economic Theory, 1993, vol. 3, issue 2, pages 373-77

Abstract: Conditions are given for an infinite horizon consumption-savings model under which savings are bounded away from O with probability 1 even in the long-run. That is, with probability 1 there exists a time T and a minimum level of savings S [underlined] such for t [greater than] T savings will always be greater than S [underlined].

Date: 1993
References: Add references at CitEc
Citations Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:spr:joecth:v:3:y:1993:i:2:p:373-77

Ordering information: This journal article can be ordered from
http://link.springer.de/orders.htm

Access Statistics for this article

Economic Theory is edited by Nichoals Yanneils

More articles in Economic Theory from Springer
Series data maintained by Guenther Eichhorn ().