LIBROS DEL AUTOR: benjamin a malin

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  • Finance and Economics Discussion Series
    Benjamin A. Malin / United States Federal Reserve Board
    Previous research suggests that, in partial equilibrium, individuals whose decision-making exhibits a present-bias--such as hyperbolic discounters who tend to over-consume--will be in favor of having a floor imposed on their savings. In this paper, I show it is quite difficult for the introduction of a savings floor to be Pareto-improving in general equilibrium. Indeed, a neces...
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