the estimated model to evaluate the contribution of life-cycle, bequest, and precautionary motives to total savings. We …

in opposing forces on savings: mortality increases, which reduces savings, and long-term illness risk increases, which … enhances savings. We use a two period life-cycle model with uncertain lifetime including perceived HIV contamination risk to … illustrate both the opposing effects of the HIV epidemic on individual savings and test the predictions of our model with data …

virtually every type of household. However, precautionary savings account for only 8 percent of total wealth holdings. Even …

In this paper, we estimate the effect of a tax policy change on households' consumption and retirement savings behavior …, by using a unique panel data of voluntary retirement savings (PPF) and debit card spending transactions. On average, we … find that households reduce their consumption by 14% and increase their PPF savings by 16% in response to an increase in …