Guiso, Luigi; Jappelli, Tullio; Terlizzese, Daniele - C.E.P.R. Discussion Papers - 1992
We test for the presence of precautionary saving using a self-reported measure of earnings uncertainty drawn from the 1989 Italian Survey of Household Income and Wealth. The effect of uncertainty on saving and wealth accumulations is consistent with the theory of precautionary saving and with...