Guariglia, Alessandra; Kim, Byung-Yeon - In: Journal of Population Economics 17 (2004) 2, pp. 289-310
Using a panel of 3,522 Russian households over the period 1994-2000, this paper tests the precautionary saving hypothesis, according to which households save to self-insure against uncertainty. We proxy uncertainty with a measure of earnings variability based on the subjective probability of...