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| Title: | | The effect of health and employment risks on precautionary savings  |
| Authors: | | Geyer, Johannes |
| Issue Date: | | 2011 |
| Series/Report no.: | | Discussion Papers, German Institute for Economic Research, DIW Berlin 1167 |
| Abstract: | | This paper extends the idea of using ex-ante risk measures in a model of precautionary savings by explicitly simulating future net-income risks. The uncertainty measure takes into account the interdependency of labour market status and health. The model is estimated for prime age males using the German Socio-Economic Panel Study for years 2001-2007. The empirical analysis is conducted using a measure for saving stocks and saving flows. The latter model allows to control for individual specific effects. I find evidence for precautionary savings in response to the uncertainty measures. The results are robust and stable across specifications. There is evidence for a share of precautionary wealth of about 14 to 17 percent. |
| Subjects: | | Precautionary savings health employment risks |
| JEL: | | D91 E21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des DIW DIW-Diskussionspapiere
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