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dc.contributor.authorFossen, Frank M.en
dc.contributor.authorRostam-Afschar, Davuden
dc.date.accessioned2010-08-11T09:10:54Z-
dc.date.available2010-08-11T09:10:54Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/37358-
dc.description.abstractVarious studies have interpreted a positive correlation between income risk and wealth as evidence for large precautionary savings. However, the high estimates emerged from pooling non-entrepreneurs and entrepreneurs without controlling for heterogeneity. This paper provides evidence for Germany based on representative panel data including private wealth balance sheets. Entrepreneurs, who face high income risk, hold more wealth than employees, but it is shown that this is not due to precautionary motives. They may rather save for old age, as they are usually not covered by statutory pension insurance. The analysis accounts for endogeneity of entrepreneurial choice and heterogeneous risk attitudes.en
dc.language.isoengen
dc.publisher|aVerein für Socialpolitik |cFrankfurt a. M.en
dc.relation.ispartofseries|aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Income Risk, Savings and Intergenerational Links |xA14-V2en
dc.subject.jelD91en
dc.subject.jelD12en
dc.subject.jelE21en
dc.subject.ddc330en
dc.subject.keywordprecautionary savingen
dc.subject.keywordprecautionary wealthen
dc.subject.keywordentrepreneurshipen
dc.subject.keywordrisk aversionen
dc.titlePrecautionary and Entrepreneurial Saving - New Evidence from German Households-
dc.typeConference Paperen
dc.identifier.ppn654778973en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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