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  • Non-Commitment and Savings in Dynamic Risk-Sharing Contracts 

    Gobert, Karine; Poitevin, Michel (Université de Montréal. Département de sciences économiques., 1998)
    We characterize the solution to a model of consumption smoothing using financing under non-commitment and savings. We show that, under certain conditions, these two different instruments complement each other perfectly. If the rate of time preference ...