Hurst, Erik; Kennickell, Arthur; Lusardi, Annamaria; … - National Bureau of Economic Research (NBER) - 2005
In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving … saving motive exists. Using data from the Panel Study of Income Dynamics in the 1980s and the 1990s, we show that among both …-business owners. Thus, while a precautionary saving motive exists and affects all households, it does not give rise to high amounts of …