"The Importance of Bequest and Life-Cycle Saving in Capital Accumulation: A New Answer"
©
American Economic Review,
May
2002
Volume: 92
|
Issue: 2
|
Pages: 274-78
Publication type: Journal article
Research Archive Topic: Business Economics and Public Policy
Abstract
In this paper we argue that allowing for uncertainty resolves the controversy over the importance of life-cycle and bequest saving by showing that these motives for saving are overlapping and cannot generally be distinguished.
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