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Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 850
Verlag: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Zusammenfassung: 
We quantify the importance of precautionary labor supply using data from the German Socio-Economic Panel (SOEP) for 2001-2012. We estimate dynamic labor supply equations augmented with a measure of wage risk. Our results show that married men choose about 2.5% of their hours of work or one week per year on average to shield against unpredictable wage shocks. This implies that about 26% of precautionary savings are due to precautionary labor supply. If self-employed faced the same wage risk as the median civil servant, their hours of work would reduce by 4%.
Schlagwörter: 
Wage Risk
Labor Supply
Precautionary Saving
Life Cycle
Dynamic Panel Data
JEL: 
D91
J22
C23
Dokumentart: 
Working Paper

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