Diminished Expectations of Nuclear War and Increased Personal Savings : Evidence From Individual Survey Data
Bruce Russett, Joel Slemrod
At the end of 1983 Gallup polls showed that 52 percent of Americans thought that the probability of a world war in the next 10 years was 50% or higher; by 1989 the percentage had dropped to 29%. Fear of war of this pervasiveness is bound to have an effect on decisions about present versus uncertain future consumption. This paper investigates the cross-sectional relationship between saving and fear of war using responses to telephone surveys conducted during April and October of 1990. The analysis shows that an individual's professed level of fear about the likelihood of nuclear war was significantly negatively related to the probability of being a saver rather than a dissaver, to changes in actual saving, and to saving plans relative to actual savings. Fear of war had an independent effect controlling for many demographic, economic and psychological characteristics. These results are broadly consistent with other evidence on the relationship between aggregate saving and fear of war over time and across countries
Year of publication: |
March 1992
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Authors: | Russett, Bruce |
Other Persons: | Slemrod, Joel (contributor) |
Institutions: | National Bureau of Economic Research (contributor) |
Publisher: |
Cambridge, Mass : National Bureau of Economic Research |
Subject: | Sparen | Savings | Erwartungsbildung | Expectation formation | Kernwaffe | Nuclear weapon |
Saved in:
freely available
Extent: | 1 Online-Ressource |
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Series: | NBER working paper series ; no. w4031 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Hardcopy version available to institutional subscribers. |
Other identifiers: | 10.3386/w4031 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012474949