preferences, risk preferences, and intertemporal smoothing preferences. We consider a ‘pure consumption’ model with exogenous …

This paper aims to fill the gaps in the analysis of risk‐sharing channels at the microlevel, both within and across … to quantify in a unified and consistent framework several risk‐sharing mechanisms that so far have been documented … both 2008-2010 and 2010-2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings …

between unemployment risk and precautionary saving. Using the estimated model to measure the contribution of precautionary … savings to the propagation of recent recessions, we find strong aggregate demand effects during the Great Recession and, to a …

alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is …

theory of precautionary savings and to quantify the importance of self-selection into occupations due to differences in risk … aversion. In the presence of self-selection, failing to control for risk aversion in empirical tests of precautionary savings … results in a bias that could lead to a false rejection of the theory. We exploit the fact that for individuals from the former …

alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is …

uncertainty on households' consumption-savings decision. Applying a structural demand model to German survey data, we estimate the … uncompensated interest rate elasticity for savings, in line with the literature, to around zero. Accordingly, any policy …-induced variation of net returns to savings is expected to have no significant effects on the level of savings. Moreover, we find …