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Expectations and Saving Behavior: An Empirical Analysis

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  • Stefan Arent

Abstract

In this paper we analyze the impact of the expectations about future labor income on thesaving behavior of German households. We measure expectations on an individual basisinstead of generalized risk measures as it is common in existing studies. We use aunique panel data set on household savings. We find that that a higher unemploymentexpectation significantly decreases savings. However, we are not able to identify asignificant relationship between general future income expectations and savings. Moreover,we find that good health expectations increase savings in Western Germany, butdecrease the savings in Eastern Germany.

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Bibliographic Info

Paper provided by Ifo Institute for Economic Research at the University of Munich in its series Ifo Working Paper Series with number Ifo Working Paper No. 128.

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Date of creation: 2012
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Handle: RePEc:ces:ifowps:_128

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Related research

Keywords: Income expectations; unemployment expectations; health expectations; saving behavior; savings;

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References

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  1. Christopher D Carroll & Karen E Dynan & Spencer D Krane, 1999. "Unemployment Risk and Precautionary Wealth: Evidence from Households' Balance Sheets," Economics Working Paper Archive, The Johns Hopkins University,Department of Economics 416, The Johns Hopkins University,Department of Economics.
  2. Stefan Arent & Alexander Eck & Michael Kloss & Oskar Krohmer, 2012. "Income Risk, Saving and Taxation:Will Precautionary Saving Survive?," Ifo Working Paper Series, Ifo Institute for Economic Research at the University of Munich Ifo Working Paper No. 125, Ifo Institute for Economic Research at the University of Munich.
  3. Eeckhoudt, Louis & Schlesinger, Harris, 2008. "Changes in risk and the demand for saving," Journal of Monetary Economics, Elsevier, Elsevier, vol. 55(7), pages 1329-1336, October.
  4. Erik Hornung, 2012. "Railroads and Micro-regional Growth in Prussia," Ifo Working Paper Series, Ifo Institute for Economic Research at the University of Munich Ifo Working Paper No. 127, Ifo Institute for Economic Research at the University of Munich.
  5. Ekern, Steinar, 1980. "Increasing Nth degree risk," Economics Letters, Elsevier, Elsevier, vol. 6(4), pages 329-333.
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Cited by:
  1. Marcus Klemm, 2012. "Job Security Perceptions and the Saving Behavior of German Households," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0380, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  2. Thomas Triebs & Subal C. Kumbhakar, 2012. "Management Practice in Production," Ifo Working Paper Series, Ifo Institute for Economic Research at the University of Munich Ifo Working Paper No. 129, Ifo Institute for Economic Research at the University of Munich.
  3. Stefan Arent, 2012. "Erwartungen und Sparen: wie wirken Arbeitslosigkeits- und Gesundheitserwartungen auf die Sparentscheidung von Haushalten?," ifo Dresden berichtet, Ifo Institute for Economic Research at the University of Munich, Ifo Institute for Economic Research at the University of Munich, vol. 19(02), pages 13-18, 04.

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