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How does risk affect saving? Empirical work typically examines the effects of detectible differences in risk within the … data. How these differences affect saving in theoretical models depends on the metric one uses for risk. For labor …-income risk, second-degree increases in risk require prudence to induce increased saving demand. However, prudence is not …
Persistent link: https://www.econbiz.de/10010264428
We present a tractable model of the effects of nonfinancial risk on intertemporal choice. Our purpose is to provide a … economy, where most modelers have chosen not to incorporate serious nonfinancial risk because available methods were too … most of the key implications of nonfinancial risk for intertemporal choice. …
Persistent link: https://www.econbiz.de/10010303721
leaving large estates. The three leading explanations for the 'retirement savings puzzle' are the desire to insure against …
Persistent link: https://www.econbiz.de/10014480367
current estimates of the output gap in Canada. We begin by assembling a new data base of quarterly realtime output estimates …
Persistent link: https://www.econbiz.de/10010295656
-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tighening of …
Persistent link: https://www.econbiz.de/10010500212
in the well-known Lee-Carter model. Significant correlations are found with real GDP growth rates in Australia, Canada …, and the United States, and with unemployment rate changes in Japan, for the period 19502005. In recent years, the …
Persistent link: https://www.econbiz.de/10010265670
of the United States, Canada and Germany to data risks posed by popular apps such as FaceApp, Facebook, Strava, TikTok … countries in which they live) at risk. …
Persistent link: https://www.econbiz.de/10014565881
, but with increments being smaller in the European data. Third, we find that wage risk is procyclical in Germany while it … determining the cyclical properties of labor market risk. …
Persistent link: https://www.econbiz.de/10010271322
Recent models with liquidity constraints and impatience emphasize that consumers use savings to buffer income …
Persistent link: https://www.econbiz.de/10010298378
alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is …
Persistent link: https://www.econbiz.de/10010295833