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Saving behaviour and earnings uncertainty: Evidence from the British Household Panel Survey

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  • Alessandra Guariglia

    ()
    (Department of Economics, Keynes College, University of Kent at Canterbury, Canterbury, CT2 7NP, United Kingdom)

Abstract

For the first time, this paper uses a panel data set, the British Household Panel Survey, to analyse saving behaviour in Britain. One objective is to test the precautionary saving hypothesis, according to which households save to self-insure against uncertainty. Our results show that in accordance with this hypothesis, various measures of uncertainty based on earnings variability have a statistically significant effect on households' saving decisions. Moreover, in accordance with the life cycle model, households save more if they expect their financial situation to deteriorate.

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Bibliographic Info

Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 14 (2001)
Issue (Month): 4 ()
Pages: 619-634

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Handle: RePEc:spr:jopoec:v:14:y:2001:i:4:p:619-634

Note: Received: 15 June 1999/Accepted: 4 January 2001
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Related research

Keywords: Precautionary saving; uncertainty; earnings variability;

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Cited by:
  1. Klos, Alexander & Rottke, Simon, 2013. "Saving and Consumption When Children Move Out," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79786, Verein für Socialpolitik / German Economic Association.
  2. Marcus Klemm, 2012. "Job Security Perceptions and the Saving Behavior of German Households," Ruhr Economic Papers 0380, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  3. Manuela Deidda, 2014. "Precautionary saving under liquidity constraints: evidence from Italy," Empirical Economics, Springer, vol. 46(1), pages 329-360, February.
  4. repec:nsr:niesrd:287 is not listed on IDEAS
  5. Patti Fisher & Catherine Montalto, 2011. "Loss Aversion and Saving Behavior: Evidence from the 2007 U.S. Survey of Consumer Finances," Journal of Family and Economic Issues, Springer, vol. 32(1), pages 4-14, March.
  6. Alessandra Guariglia & Mariacristina Rossi, 2003. "Private Medical Insurance and Saving: Evidence from the British Household Panel Survey," CEIS Research Paper 39, Tor Vergata University, CEIS.
  7. Sarah Brown & Karl Taylor, 2011. "Household finances and the 'Big Five' personality traits," Working Papers 2011025, The University of Sheffield, Department of Economics.
  8. Sarah Brown & Karl Taylor, 2006. "Financial expectations, consumption and saving: a microeconomic analysis," Fiscal Studies, Institute for Fiscal Studies, vol. 27(3), pages 313-338, August.
  9. Evren Ceritoğlu, 2013. "The impact of labour income risk on household saving decisions in Turkey," Review of Economics of the Household, Springer, vol. 11(1), pages 109-129, March.
  10. David Bywaters & D. Thomas, 2006. "Consumption, Wealth, and Indebtedness in the Context of Uncertainty: The Consumption Function Meets Portfolio Theory," International Advances in Economic Research, Springer, vol. 12(3), pages 298-307, August.

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