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Epargne de précaution et statique comparative avec aversion pour le risque

Bommier, Antoine; Chassagnon, Arnold; Le Grand, François - Université Paris-Dauphine (Paris IX) - 2009

Persistent link: https://www.econbiz.de/10010861555

Comparative risk aversion: A formal approach with applications to saving behavior

Bommier, Antoine; Chassagnon, Arnold; Le Grand, François - In: Journal of Economic Theory 147 (2012) 4, pp. 1614-1641

We consider a formal approach to comparative risk aversion and apply it to intertemporal choice models. This allows us to ask whether standard classes of utility functions, such as those inspired by Kihlstrom and Mirman (1974) [16], Selden (1978) [27], Epstein and Zin (1989) [10] and Quiggin...

Persistent link: https://www.econbiz.de/10010576553

The Effect of Health and Employment Risks on Precautionary Savings

Geyer, Johannes - Forschungsbasierte Infrastruktureinrichtung … - 2011

This paper extends the idea of using ex-ante risk measures in a model of precautionary savings by explicitly simulating future net-income risks. The uncertainty measure takes into account the interdependency of labour market status and health. The model is estimated for prime age males using the...

Persistent link: https://www.econbiz.de/10009368428

Climate Change and Extreme Events: an Assessment of Economic Implications

Roson, Roberto; Calzadilla, Alvaro; Pauli, Francesco - Dipartimento di Economia, Università Ca' Foscari Venezia - 2006

We use a general equilibrium model of the world economy, and a regional economic growth model, to assess the economic implications of vulnerability from extreme meteorological events, induced by the climate change. In particular, we first consider the impact of climate change on ENSO and NAO...

Persistent link: https://www.econbiz.de/10005030077

Unemployment Risk, Precautionary Savings, and Moonlighting in Russia

Guariglia, Alessandra; Kim, Byung-Yeon - William Davidson Institute, University of Michigan - 1999

findings are robust to different measures of savings and model specifications, and highlight the role of moonlighting as a self-insurance …

Persistent link: https://www.econbiz.de/10005677390

Wage risk and employment risk over the life cycle

Low, Hamish; Meghir, Costas; Pistaferri, Luigi - Institute for Fiscal Studies (IFS) - 2008

heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income … stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. …

Persistent link: https://www.econbiz.de/10005727580

Wage risk and employment risk over the life cycle

Low, Hamish; Meghir, Costas; Pistaferri, Luigi - Institute for Fiscal Studies (IFS) - 2006

unemployment insurance which provides (partial) insurance against employment risk and no insurance against persistent shocks. …

Persistent link: https://www.econbiz.de/10005547890

The Response of Consumption in Russian Households to Economic Shocks

Stillman, Steven - William Davidson Institute, University of Michigan - 2001

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During the time period studied in this paper (1994 - 1998), Russia experienced two major economic crises. Both featured extreme movements in the real ruble-dollar exchange rate. The...

Persistent link: https://www.econbiz.de/10005784663

Wage Risk and Employment Risk over the Life Cycle

Low, Hamish; Meghir, Costas; Pistaferri, Luigi - Institute for the Study of Labor (IZA) - 2008

Persistent link: https://www.econbiz.de/10005822852

The response of household wealth to the risk of losing the job: evidence from differences in firing costs

Barceló, Cristina; Villanueva, Ernesto - Banco de España - 2010

Economic theory predicts that individuals exposed to the risk of losing their job postpone their consumption and accumulate more assets to build a buffer stock of saving. We provide a new test of the hypothesis using substantial variation in severance payments across contracts in the Spanish...

Persistent link: https://www.econbiz.de/10008516766