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Permanent Income Shocks, Target Wealth, and the Wealth Gap

By: Contributor(s): Material type: TextTextPublication details: American Economic Journal: Macroeconomics; 2025Description: 102-125ISSN:
  • 1945-7707
Subject(s): Online resources: Summary: We test the key implication of the buffer-stock model, namely that any revision in permanent income leads to a proportionate revision in target wealth. We use panel data on the amount of wealth that people think they must hold for precautionary purposes.
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Article Index Article Index Dr VKRV Rao Library Vol. 17, No. 1 Not for loan AI1238

We test the key implication of the buffer-stock model, namely that any revision in permanent income leads to a proportionate revision in target wealth. We use panel data on the amount of wealth that people think they must hold for precautionary purposes.

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