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The Optimal Amount of Attention to Capital Income Risk and Heterogeneous Precautionary Saving Behavior
Yin, Penghui - 2019
This paper studies attention allocation behavior of rationally inattentive consumers who have CRRA preferences, face uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to capital income risk, we solve for the optimal...
Persistent link: https://www.econbiz.de/10012892117
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Diversification of Risk and Saving
Wilson, Bonnie - 2004
This paper provides evidence that domestic opportunities to share risk have contributed to lower rates of private saving. Two econometric procedures are used in the analysis: (1) traditional instrumental variables estimation and (2) dynamic panel methods. The results reveal a negative...
Persistent link: https://www.econbiz.de/10014069641
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Unemployment and portfolio choice : does persistence matter?
Kuzin, Vladimir; Bremus, Franziska M. - 2010
persistence. -- Precautionary savings ; unemployment insurance ; long-term unemployment ; income uncertainty …
Persistent link: https://www.econbiz.de/10003934763
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Unemployment and portfolio choice : does persistence matter?
Bremus, Franziska M.; Kuzin, Vladimir - 2011 - This version: October 13, 2011
Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming … ; precautionary savings …
Persistent link: https://www.econbiz.de/10009515596
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Unemployment and portfolio choice : does persistence matter?
Kuzin, Vladimir; Bremus, Franziska - 2010
We use a life-cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10011389307
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Portfolio Choice and Precautionary Savings
Calcagno, Riccardo - 2011
We study the effect on savings of an increase in the capital risk of the investment opportunities when the … individuals with high risk-aversion and time-separable, power utility increase their optimal savings when capital risk increases …
Persistent link: https://www.econbiz.de/10013122523
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Precautionary Saving and Endogenous Labor Supply With and Without Intertemporal Expected Utility
Nocetti, Diego - 2010
We analyze precautionary saving behavior in a framework with labor and non-labor income risks, an endogenous supply of labor, and a representation of preferences that disentangles attitudes towards risk, attitudes towards intertemporal smoothing, and ordinal preferences for consumption and...
Persistent link: https://www.econbiz.de/10013151927
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Precautionary Savings and the Self-Employed : Does Uncertainty Magnitude Matter?
Rossi, Maria Christina - 2016
Precautionary savings have often been analyzed with regard to its impact on current savings. This work focuses instead … on the impact of uncertainty on savings under bequest form. We thus turn the focus on estimating whether and to what … extent income variability does have an effect on post-mortem savings. We approximate the post-mortem savings with the closest …
Persistent link: https://www.econbiz.de/10012984956
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Unemployment and Portfolio Choice : Does Persistence Matter?
Kuzin, Vladimir - 2010
We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10013144138
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Unemployment Risk, Precautionary Saving, and Durable Goods Purchase Decisions
Dunn, Wendy E. - 1999
In this paper household level data are used to explore whether unemployment risk is an important factor in the timing of consumers' durable goods purchase decisions. A theoretical model is presented in which both income uncertainty and household debt play a direct role, offering a potential...
Persistent link: https://www.econbiz.de/10014202887