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The Prudence of Mexican Consumers

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  • David J. Mckenzie

    ()
    (Stanford University)

Abstract

The ENIGH household surveys are used to investigate the strength of the precautionary motive in Mexico, using pseudo-panel methods to obtain estimates of the coefficient of relative prudence for Mexican consumers. The method provided accounts for the aggregation problems arising from unequally-spaced surveys. The low levels of prudence found can help explain why consumers had insufficient savings to smooth consumption during the peso crisis. Differences in prudence may also explain the low household savings rates in Mexico compared to the high savings rates in East Asian countries such as Taiwan.

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File URL: http://www.economiamexicana.cide.edu/num_anteriores/XI-2/05_DAVID_MCKENZIE.pdf
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Bibliographic Info

Article provided by in its journal Economia Mexicana NUEVA EPOCA.

Volume (Year): XI (2002)
Issue (Month): 2 (July-December)
Pages: 393-407

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Handle: RePEc:emc:ecomex:v:11:y:2002:i:2:p:393-407

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Keywords: prudence; pseudo-panel; aggregation;

References

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  1. David J. McKenzie, 2001. "Consumption Growth in a Booming Economy: Taiwan 1976-96," Working Papers 823, Economic Growth Center, Yale University.
  2. Verbeek, Marno & Nijman, Theo, 1992. "Can Cohort Data Be Treated as Genuine Panel Data?," Empirical Economics, Springer, vol. 17(1), pages 9-23.
  3. Dynan, Karen E, 1993. "How Prudent Are Consumers?," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1104-13, December.
  4. Karen E. Dynan, 1993. "How prudent are consumers?," Working Paper Series / Economic Activity Section 135, Board of Governors of the Federal Reserve System (U.S.).
  5. Kimball, Miles S, 1990. "Precautionary Saving in the Small and in the Large," Econometrica, Econometric Society, vol. 58(1), pages 53-73, January.
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Cited by:
  1. McKenzie, David J., 2006. "Precautionary saving and consumption growth in Taiwan," China Economic Review, Elsevier, vol. 17(1), pages 84-101.
  2. David J. McKenzie, 2001. "The Household Response to the Mexican Peso Crisis," Working Papers 01017, Stanford University, Department of Economics.

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