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Comparative Risk Aversion: A Formal Approach with Applications to Saving Behaviors
Bommier, Antoine; Chassagnon, Arnold; Le Grand, François - 2010
allows us to establish new general results on the impact of risk aversion on savings behaviors. In particular, we show that … risk aversion enhances precautionary savings, clarifying the link that exists between the notions of prudence and risk …
Persistent link: https://www.econbiz.de/10011753198
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Risk and Savings: a Taxonomy
Gunning, Jan Willem - 2008
-period model how the effect of risk on savings depends not only on preferences but also on the type of risk. …
Persistent link: https://www.econbiz.de/10010326046
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Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines
Ashraf, Nava; Karlan, Dean S.; Yin, Wesley - 2005
We designed a commitment savings product for a Philippine bank and implemented it using a randomized control … methodology. The savings product was intended for individuals who want to commit now to restrict access to their savings, and who … for commitment, were indeed significantly more likely to open the commitment savings account. After twelve months, average …
Persistent link: https://www.econbiz.de/10010369236
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Conflicting measures of poverty and inadequate saving by the poor: The role of status-driven utility function
Marjit, Sugata - 2012
In the presence of inequality a status-driven utility function reconciles the conflict between income-based and nutrition-based measures of poverty. Moreover, it can explain why the poor tend to save less, an established empirical fact in the developing countries. The result is independent of...
Persistent link: https://www.econbiz.de/10010319857
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Life Cycle Time Allocation and Saving in an Imperfect Capital Market
Apps, Patricia; Rees, Ray - 2004
This paper combines income and expenditure with time use data to provide a unique picture of the time paths of labour supplies, saving and full consumption for two-adult households over the life cycle. These data are used to test the life cycle model presented in the paper, at the core of which...
Persistent link: https://www.econbiz.de/10010261803
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A constitutional theory of the family
Cigno, Alessandro - 2005
The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The...
Persistent link: https://www.econbiz.de/10010267482
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Why did Japan's household savings rate fall in the 1990s?
Ogawa, Kazuo - 2005
This paper investigates empirically why Japan's household savings rate fell in the 1990s. We constructed an economic …'s household savings rate. Our simulation analysis demonstrated that if the proportion of liquidity-constrained households in the … 1990s had stayed at the level as that of the late 1980s, the household savings rate would have increased by four percent …
Persistent link: https://www.econbiz.de/10010332236
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Sequential optimization, front-loaded information, and U.S. consumption
Willman, Alpo - 2007
In an overlapping generations maximization framework with consumers, whose information on uncertain future income realizations is front loaded, a closed form aggregate consumption function with CRRA preferences is derived. To have a closed form solution we assume that consumers solve their...
Persistent link: https://www.econbiz.de/10011604811
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The determinants of household saving in China: A dynamic panel analysis of provincial data
Horioka, Charles Yuji; Wan, Junmin - 2006
In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China's household survey. We find that China's household saving rate has been high and rising...
Persistent link: https://www.econbiz.de/10010332228
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The determinants and long-term projections of saving rates in developing Asia
Horioka, Charles Yuji; Terada-Hagiwara, Akiko - 2011
In this paper, we present data on trends over time in domestic saving rates in twelve economies in developing Asia during the 1966-2007 period and analyze the determinants of these trends. We find that domestic saving rates in developing Asia have, in general, been high and rising but that there...
Persistent link: https://www.econbiz.de/10010332273