Unemployment Risk and Precautionary Wealth PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Unemployment Risk and Precautionary Wealth PDF full book. Access full book title Unemployment Risk and Precautionary Wealth by Chris Carroll. Download full books in PDF and EPUB format.
Author: Chris Carroll
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 68
Get Book Here
Book Description
Author: Chris Carroll
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 68
Get Book Here
Book Description
Author: Christopher D. Carroll
Publisher:
ISBN:
Category :
Languages : en
Pages : 53
Get Book Here
Book Description
Author: Allen N. Berger
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 28
Get Book Here
Book Description
Author: AKESSANDRA GUARIGLIA
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
Get Book Here
Book Description
Author: Eric M. Engen
Publisher:
ISBN:
Category : Saving and investment
Languages : en
Pages : 50
Get Book Here
Book Description
We consider both theoretically and empirically the effect of unemployment insurance (UI) on precautionary savings behavior. Simulations of a stochastic life cycle model suggest that increasing the generosity of UI will substantially lower the asset holdings of the median worker, and that this effect will both rise with unemployment risk and fall with worker age. We test these implications by matching data on potential UI replacement rates to asset holdings in the Survey of Income and Program Participation (SIPP). Our empirical results are quite consistent with the predictions of the model. We find that raising the replacement rate for UI by 10 percentage points lowers financial asset holdings by 1.4 to 5.6%, so that UI crowds out up to one-half of private savings for the typical unemployment spell. We also find that this effect is stronger for those facing higher unemployment risk and weaker for older workers
Author: Wendy E. Dunn
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Kelvin Robert Utendorf
Publisher:
ISBN:
Category : Saving and investment
Languages : en
Pages : 386
Get Book Here
Book Description
Author: Wendy E. Dunn
Publisher:
ISBN:
Category : Saving and investment
Languages : en
Pages : 33
Get Book Here
Book Description
Author: Mr.Christopher Carroll
Publisher: International Monetary Fund
ISBN: 1475505698
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
We argue that the U.S. personal saving rate’s long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious ‘buffer stock’ model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between ‘target’ and actual wealth, with the target wealth determined by credit conditions and uncertainty. An estimated structural version of the model suggests that increased credit availability accounts for most of the saving rate’s long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business-cycle variation.
Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
ISBN: 1463936435
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, we find for a panel of advanced economies that greater labor income uncertainty is significantly associated with higher household savings. These results are robust to controlling for other determinants of saving rates, including wealth-to-income ratios, the government fiscal balance, demographics, credit conditions, and global growth and financial stress. Our estimates imply that at least two-fifths of the sharp increase in household saving rates between 2007 and 2009 can be attributed to the precautionary savings motive.
