Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/26433
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dc.contributor.authorEeckhoudt, Louisen_US
dc.contributor.authorSchlesinger, Harrisen_US
dc.date.accessioned2008-09-11en_US
dc.date.accessioned2009-07-28T08:31:49Z-
dc.date.available2009-07-28T08:31:49Z-
dc.date.issued2008en_US
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_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunichen_US
dc.relation.ispartofseries|aCESifo working paper|x2388en_US
dc.subject.jelD81en_US
dc.subject.jelE21en_US
dc.subject.ddc330en_US
dc.subject.keywordPrecautionary savingen_US
dc.subject.keywordprudenceen_US
dc.subject.keywordstochastic dominanceen_US
dc.subject.keywordtemperanceen_US
dc.subject.stwSparenen_US
dc.subject.stwLohnen_US
dc.subject.stwRisikoen_US
dc.subject.stwZinsrisikoen_US
dc.subject.stwTheorieen_US
dc.titleChanges in risk and the demand for savingen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn577510649en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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