Little Saver, What Now?

Brendan Brown

Chapter 4 in A Theory of Hedge Investment, 1982, pp 72-86 from Palgrave Macmillan

Abstract: Abstract The little saver is handicapped typically in two major respects. First, transaction costs bear on him particularly heavily: in most markets these fall (in per unit value terms) as the size of transactions increases. Second, the greater part of his wealth is likely to be held in non-marketable or very illiquid assets — principally in the form of human capital and residential investment. In short, the little saver is in a mesh, from which the escape has to be mainly through enlargement of wealth.

Keywords: Human Capital; Transaction Cost; Marginal Utility; House Rent; Residential Property (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-06103-7_4

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