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The B.E. Journal of Macroeconomics

Editor-in-Chief: Cavalcanti, Tiago / Kambourov, Gueorgui

Ed. by Abraham, Arpad / Carceles-Poveda , Eva / Debortoli, Davide / Schwartzman, Felipe / Wang, Pengfei

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Erratum to: Life-cycle consumption, precautionary saving, and risk sharing: an integrated analysis using household panel data

Seung C. Ahn
  • Department of Economics, W.P. Carey School of Business, Arizona State University, P.O. Box 873806, Temple, AZ 85287-3806, USA
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/ H. Youn Kim / Tong Hee Kang
Published Online: 2018-01-06 | DOI: https://doi.org/10.1515/bejm-2016-5005

This Erratum corrects the original online version which can be found here: https://doi.org/10.1515/bejm-2016-0082

Erratum to: S. C. Ahn, H. Y. Kim, and T. H. Kang. 2017. Life-cycle consumption, precautionary saving, and risk sharing: an integrated analysis using household panel data. The B.E. Journal of Macroeconomics. Volume 17, Issue 2. (DOI: 10.1515/bejm-2016-0082):

For equation (5), ϕ was erroneously defined as ϕ=(1/α)θ. Instead, it should be ϕ=1/α. Together with the equation, the sentence then reads:


where Δlnct+1h is the growth of real consumption, ρ=ρ/α,θ=[(α1)/α]θ,ϕ=1/α, and et+1hϕet+1h (by the first-order approximation of ln(1+et+1h) ) with Et(et+1h)=0 and vart(et+1h)=ϕ2σt+1h,2 .

In equation (6), the left side is incorrect. The correct equation is this:

Et[Δlnct+1hρ-θΔzt+1h-ϕrt+1]=ϕ2vart(et+1h)=ϕ2σt+1h,2.(6) .

In equation (18), the term βσiut+1h,2 was misprinted as βσtut+12,h. A similar mistake appears in equation (25), where the term βσiut+1h,2 was misprinted as βσtut+12,h .

In equations (23) and (24), the term St+12,h should be replaced by St+1h,2.

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Published Online: 2018-01-06

Citation Information: The B.E. Journal of Macroeconomics, Volume 18, Issue 1, 20165005, ISSN (Online) 1935-1690, DOI: https://doi.org/10.1515/bejm-2016-5005.

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