A Closed-form Solution for a Model of Precautionay Saving

DOI10.2307/2298063MaRDI QIDQ5289338zbMATH OpenOpenAlexFDO

Authors Frederick van der Ploeg

Publication date 23 August 1993

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/2298063

zbMATH Keywords

closed-loop linear decision ruleslife-cycle consumption plansstochastic dynamic programming

Mathematics Subject Classification ID

Stochastic programming (90C15) Dynamic programming (90C39) Applications of mathematical programming (90C90) Consumer behavior, demand theory (91B42) Economic growth models (91B62) Stochastic systems in control theory (general) (93E03)

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Cited in

(12)

• An analytical approximate solution to the problem of precautionary savings
• The effects of uncertainty on optimal consumption
• Precautionary saving and fuzzy information
• A tractable model of precautionary saving in continuous time
• Model uncertainty and intertemporal tax smoothing
• Information shocks and precautionary saving
• International outsourcing, the real exchange rate and effective demand
• The consumption function and the precautionary demand for savings
• Dynastic precautionary savings
• A measure of the sensitivity of saving to interest rate uncertainty with non-expected preferences
• ``Itō's lemma and the Bellman equation for Poisson processes: An applied view
• On the relation between robust and Bayesian decision making

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