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摘要翻译：
经验证据表明，富人比穷人有更高的储蓄倾向。虽然这一观察似乎与偏好的同质性相矛盾，但我们在理论上表明情况并非如此。具体来说，我们考虑了具有相似偏好和一般冲击的收入波动问题，证明了消费函数是渐近线性的，并给出了渐近边际消费倾向(MPC)的精确分析刻画。给出了渐近MPCs为零的充要条件。我们用标准常数相对风险厌恶效用校正了一个模型，并证明零渐近MPCs在经验上是可信的，这意味着我们的机制有潜力适应富人的大储蓄率和高财富不平等（小帕累托指数），正如在数据中观察到的那样。
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英文标题：
《A Theory of the Saving Rate of the Rich》
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作者：
Qingyin Ma, Alexis Akira Toda
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最新提交年份：
2021
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分类信息：
一级分类：Economics 经济学
二级分类：Theoretical Economics 理论经济学
分类描述：Includes theoretical contributions to Contract Theory, Decision Theory, Game Theory, General Equilibrium, Growth, Learning and Evolution, Macroeconomics, Market and Mechanism Design, and Social Choice.
包括对契约理论、决策理论、博弈论、一般均衡、增长、学习与进化、宏观经济学、市场与机制设计、社会选择的理论贡献。
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英文摘要：
Empirical evidence suggests that the rich have higher propensity to save than do the poor. While this observation may appear to contradict the homotheticity of preferences, we theoretically show that that is not the case. Specifically, we consider an income fluctuation problem with homothetic preferences and general shocks and prove that consumption functions are asymptotically linear, with an exact analytical characterization of asymptotic marginal propensities to consume (MPC). We provide necessary and sufficient conditions for the asymptotic MPCs to be zero. We calibrate a model with standard constant relative risk aversion utility and show that zero asymptotic MPCs are empirically plausible, implying that our mechanism has the potential to accommodate a large saving rate of the rich and high wealth inequality (small Pareto exponent) as observed in the data.
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PDF链接：
https://arxiv.org/pdf/2005.02379
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