Hurst, Erik; Kennickell, Arthur; Lusardi, Annamaria; … - Center for Financial Studies - 2006
business owners and non-business owners the size of precautionary savings with respect to labor income risk is modest and … that precautionary savings account for less than ten percent of total wealth for both business owners and non-business …In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving …