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dc.contributor.authorEeckhoudt, Louisen
dc.contributor.authorSchlesinger, Harrisen
dc.date.accessioned2008-09-11-
dc.date.accessioned2009-07-28T08:31:49Z-
dc.date.available2009-07-28T08:31:49Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/26433-
dc.description.abstractHow 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 necessary for first-degree risk increases and not sufficient for higher-degree risk increases. For increases in interest rate risk, a precautionary effect and a substitution effect need to be compared. This paper provides necessary and sufficient conditions on preferences for an Nth-degree change in risk to increase saving.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2388en
dc.subject.jelD81en
dc.subject.jelE21en
dc.subject.ddc330en
dc.subject.keywordPrecautionary savingen
dc.subject.keywordprudenceen
dc.subject.keywordstochastic dominanceen
dc.subject.keywordtemperanceen
dc.subject.stwSparenen
dc.subject.stwLohnen
dc.subject.stwRisikoen
dc.subject.stwZinsrisikoen
dc.subject.stwTheorieen
dc.titleChanges in risk and the demand for saving-
dc.typeWorking Paperen
dc.identifier.ppn577510649en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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