Empirical Analysis of Household Savings Decisions in Context of Uncertainty: A cross-sectional approach
Most empirical studies of savings behaviour that explicitly take account of the influence of uncertainty consider for identiï¬cation data that describe the evolution of circumstances observed during an appreciable period of the life-course. Here we report results obtained for a dynamic programming model that has been adapted to permit identiï¬cation of preference parameters using data observed at a point in time for a given population cross-section. We discuss the advantages of this approach, and our empirical results demonstrate its feasibility in context of contemporary computing technology. Read more by downloading PDF file above.
Year of publication: |
2013-03
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Authors: | Lucchino, Paolo ; Ven, Dr Justin van de |
Institutions: | National Institute of Economic and Social Research |
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