Fear of Nuclear War and Intercountry Differences in the Rate of Saving
AbstractThis paper demonstrates that, across nineteen OECD countries for 1981-84, a survey-based measure of the perceived likelihood of nuclear war is negatively correlated with the rate of net private saving, holding other determinants of saving constant. The estimates indicate that a 10 percent increase in the fraction of the population that believes a world war is likely is associated with a decline of 4.1 percentage points in the net private saving rate. This finding is consistent with other evidence based on U.S. aggregate time series and cross-individual data suggesting that fear of nuclear war decreases savings. Copyright 1990 by Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 28 (1990)
Issue (Month): 4 (October)
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Other versions of this item:
- Joel Slemrod, 1988. "Fear of Nuclear War and Intercountry Differences in the Rate of Saving," NBER Working Papers 2801, National Bureau of Economic Research, Inc.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Martin Feldstein & Jeffrey B. Liebman, 2001.
NBER Working Papers
8451, National Bureau of Economic Research, Inc.
- Bruce Russett & Joel Slemrod, 1992.
"Diminished Expectations of Nuclear War and Increased Personal Savings: Evidence From Individual Survey Data,"
NBER Working Papers
4031, National Bureau of Economic Research, Inc.
- Russett, Bruce & Slemrod, Joel, 1993. "Diminished Expectations of Nuclear War and Increased Personal Savings: Evidence from Individual Survey Data," American Economic Review, American Economic Association, vol. 83(4), pages 1022-33, September.
- Skidmore, Mark, 2001. "Risk, natural disasters, and household savings in a life cycle model," Japan and the World Economy, Elsevier, vol. 13(1), pages 15-34, January.
- David Altig, 1990. "The case of the missing interest deductions: will tax reform increase U. S. saving rates?," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 22-34.
- Hendershott, Patric H & Peek, Joe, 1992.
"Treasury Bill Rates in the 1970s and 1980s,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 24(2), pages 195-214, May.
- Eckstein, Zvi & Tsiddon, Daniel, 2004.
"Macroeconomic consequences of terror: theory and the case of Israel,"
Journal of Monetary Economics,
Elsevier, vol. 51(5), pages 971-1002, July.
- Eckstein, Zvi & Tsiddon, Daniel, 2004. "Macroeconomic Consequences of Terror: Theory and the Case of Israel," CEPR Discussion Papers 4427, C.E.P.R. Discussion Papers.
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