文章基本信息

标题：Buffer-stock saving in a Krusell-Smith world
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作者：Christopher D. Carroll ; Jiri Slacalek ; Kiichi Tokuoka 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2014
出版社：European Central Bank
摘要：A large body of microeconomic evidence supports Friedman (1957)'s proposition thathousehold income can be reasonably well described as having both transitory and permanentcomponents. We show how to modify the widely-used macroeconomic model of Krusell andSmith (1998) to accommodate such a microeconomic income process. Our incorporation ofsubstantial permanent income shocks helps our model to explain a substantial part of the largedegree of empirical wealth heterogeneity that is unexplained in the baseline Krusell and Smith(1998) model, even without heterogeneity in preferences.
关键词：Microfoundations of Macroeconomics; Household Income Pro-;cess; Aggregate Uncertainty; Wealth Inequality