| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23182 |
| 来源ID | Working Paper 23182 |
| Firm-Related Risk and Precautionary Saving Response | |
| Andreas Fagereng; Luigi Guiso; Luigi Pistaferri | |
| 发表日期 | 2017-02-20 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We propose a new approach to identify the strength of the precautionary motive and the extent of self-insurance in response to earnings risk based on Euler equation estimates. To address endogeneity problems, we use Norwegian administrative data and instrument consumption and earnings volatility with the variance of firm-specific shocks. The instrument is valid because firms pass some of their productivity shocks onto wages; moreover, for most workers firm shocks are hard to avoid. Our estimates suggest a coefficient of relative prudence of 2, in a very plausible range. |
| 主题 | Microeconomics ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w23182 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580855 |
| 推荐引用方式 GB/T 7714 | Andreas Fagereng,Luigi Guiso,Luigi Pistaferri. Firm-Related Risk and Precautionary Saving Response. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23182.pdf（117KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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