in the reforming country, employed workers increase their precautionary savings to compensate for reduced government …-provided insurance. A portion of these additional savings flows to the non-reforming country and depresses long-term consumption due to …'s tradable sector in the aftermath of the Hartz unemployment insurance reform based on firm-level data. Our quantitative model …

-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of …

consumers at or below median cognitive abilities barely react when their incentives to spend or borrow change, even if they earn … the incentives to consume, save, and borrow change over time. Cognitive constraints limit the effectiveness of policies …

Mexico, Chile and Israel. Credit from the banking sector to the private sector expanded very rapidly following the … banks. For Chile, the most important channel is the remonetization of the economy, whereas in Israel, it is the crowding in …

persistence. -- Precautionary savings ; unemployment insurance ; long-term unemployment ; income uncertainty …

asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the … the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …

expenditure. We find support for these predictions in three field experiments that randomly assign reminders to new savings … account holders. -- Intertemporal consumer choice ; savings ; attention …