Research & Teaching Pages of Patrick Toche, keywords: "economics", "toche", "patrick toche"

Precautionary Saving


  • This page was constructed for graduate students interested in the dynamics of the precautionary saving model analyzed in :  Toche, Patrick, 2005. "A Tractable Model of Precautionary Saving in Continuous Time," Economics Letters, Elsevier, Volume 87(2), Pages 267-272. See also :  Carroll, Christopher D. and Miles S. Kimball "Precautionary Saving and Precautionary Wealth", The New Palgrave Dictionary of Economics (2nd), 2008.

    • Published Version (available for a fee) : pdf
    • Submitted Version (available free of charge) :  pdf
    • Unpublished Version (more detailed, available free of charge) :  pdf
    • Maple worksheet for the phase diagram :  mws
    • Maple worksheet for the phase diagram :  pdf
    • Raw figure produced with Maple (log utility) :  ps
    • Raw figure produced with Maple (ces utility) :  ps
    • Matlab m file of the dynamic simulation :  m
    • Matlab m file for plotting the dynamic simulation :  m

  • If you use the resources made available here, please do send me an email. If you notice problems, please check your calculations with fellow students and if problems persist do inform me by email. Maple worsheets can be read only with the Maple software. Maple worksheets are unintelligble with a standard word processor. I also provide pdf versions of the Maple worksheet so that you may read the code without Maple. You will not be able to alter the pdf files, obviously, but you may be able to transcribe the lines of code into your own preferred software, such as Mathematica for instance. Do let me know if you do that.