Saving Behaviour in Stationary Equilibrium with Random Discounting

Edi Karni and Itzhak Zilcha

Working Papers from Tel Aviv

Abstract: In this paper we study the implications of random discount rates of future generations for saving behavior and capital holdings in steady-state competitive equilibrium. We examine conditions under which this randomness is sufficient for households other than the most patient to save, thus providing a simple and natural way to overcome a difficulty encountered in deterministic models.

Keywords: SAVINGS; GENERAL EQUILIBRIUM; UNCERTAINTY (search for similar items in EconPapers)
JEL-codes: D31 D80 D91 E21 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1998
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Journal Article: Saving behavior in stationary equilibrium with random discounting (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:teavfo:29-98

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