The aftermath of the recent financial crisis has been followed by increasing saving rates, which may well reflect precautionary behaviour of households. In spite of a broad agreement on the theoretical implications of uncertainty on saving rates, empirical work has not yet reached a consensus on...

In this paper we address the recent evolution of saving rates in the Spanish economy using regional data. The onset of the Great Recession has been followed by increasing saving rates, which may reflect precautionary behaviour of households. Thus, we test precautionary saving theory for a panel...

In this paper we analyze the consequences of changes in the consumption patterns on unemployment through an intermediate channel via investment. Specifically, after presenting our theoretical framework, we build a dynamic econometric multi-equational model, in which we estimate a consumption...

In this paper we analyse the consequences of changes in the consumption patterns on unemployment through an intermediate channel via investment. Specifically, after presenting our theoretical framework, we build a dynamic econometric multiequational model, in which we estimate a consumption...

The onset of the Great Recession has been followed by increasing saving rates, which may reflect precautionary behaviour of households. In spite of a broad agreement on the theoretical implications of uncertainty on saving rates, empirical work has not yet reached a consensus on which is the...

In this paper we analyse the consequences of changes in the consumption patterns on unemployment through an intermediate channel via investment. Specifically, after presenting our theoretical framework, we build a dynamic econometric multiequational model, in which we estimate a consumption...