Substantial evidence suggests that savings behavior may depart from neoclassical optimization. This article examines … the implications of raising the savings rate - whether through social security, retirement plans, or otherwise - for labor … savings behavior. Under one formulation, raising the targeted savings rate has the same effect on labor supply as that of …

. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …

extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the …

The theory of precautionary saving is shown in this paper to be isomorphic to the Arrow-Pratt theory of risk aversion …, to the theory of optimal choice under risk. In particular, a measure of the strength of precautionary saving motive …

This paper argues that precautionary savings against uncertain income comprise a large fraction of aggregate savings. A … precautionary savings comprises up to 56 percent of aggregate life cycle savings. The derived expression for n-period optimal … comparisons of savings patterns among occupational groups using the Consumer Expenditure Survey contradict the predictions of the …