منابع مشابه
Collateralized Borrowing: Illiquid Assets and Households’ Precautionary Savings Motive
Between 2000 and 2006 house prices rose more than fifty percent in real terms. Over that same period households’ mortgage and home equity debt relative to income shot up. Anecdotal and empirical evidence suggest that households accessed the equity in their homes to fund current consumption. Little if any theoretical work, however, has examined the relationship between household consumption beha...
متن کاملThe Profit Motive
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متن کاملOn the precautionary motive for savings and prudence in an EU and a NEU framework Alain CHATEAUNEUF, CERMSEM
In this paper we deal with the basic two-period consumption saving problem where the first and second period consumption utility, respectively v and u is assumed to be concave as usually. Considering the usual assumption of identity of u and v, we show that prudence is fully characterized by the convexity of u′ in the EU model. More interesting we prove that for the RDEU model, prudence is full...
متن کاملVanishing Vanishing Cycles
If A• is a bounded, constructible complex of sheaves on a complex analytic space X, and f : X → C and g : X → C are complex analytic functions, then the iterated vanishing cycles φg[−1](φf [−1]A •) are important for a number of reasons. We give a formula for the stalk cohomology H∗(φg[−1]φf [−1]A •)x in terms of relative polar curves, algebra, and the normal Morse data and micro-support of A•.
متن کاملThe profit motive in medicine.
The ethical implications of the growth of for-profit health care institutions are complex. Two major moral criticisms of for-profit medicine are analyzed. The first claim is that for-profit health care institutions fail to fulfill their obligations to do their fair share in providing health care to the poor and so exacerbate the problem of access to health care. The second claim is that profit ...
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ژورنال
عنوان ژورنال: Journal of Economics
سال: 1994
ISSN: 0931-8658
DOI: 10.1007/bf01227866