Previous authors have asserted that precautionary saving will arise only if consumers are not only risk-averse but also … other asset, prudence is neither necessary, nor sufficient, to generate precautionary saving, i.e. saving induced only by … a particular form of precautionary saving, which we name "intertemporal precautionary saving" to distinguish it from …

finding is particularly significant among unconstrained households and supported by models with precautionary saving only if …