NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Precautionary Saving and the Marginal Propensity to Consume out of Permanent Income

Christopher D. Carroll

NBER Working Paper No. 8233
Issued in April 2001

---- Acknowledgements -----

Thanks to an anonymous referee whose comments substiantially improved the paper. The paper’s title is intended as homage to Miles Kimball’s paper “Precautionary Saving and the Marginal Propensity to Consume.” The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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