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Empirical Analysis of Household Savings Decisions in Context of Uncertainty: A cross-sectional approach

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  • Paolo Lucchino

    ()

  • Dr Justin van de Ven

    ()

Abstract

� Most empirical studies of savings behaviour that explicitly take account of the influence of uncertainty consider for identiï¬cation data that describe the evolution of circumstances observed during an appreciable period of the life-course. Here we report results obtained for a dynamic programming model that has been adapted to permit identiï¬cation of preference parameters using data observed at a point in time for a given population cross-section. We discuss the advantages of this approach, and our empirical results demonstrate its feasibility in context of contemporary computing technology. � Read more by downloading PDF file above.

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Bibliographic Info

Paper provided by National Institute of Economic and Social Research in its series NIESR Discussion Papers with number 11169.

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Date of creation: Mar 2013
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Handle: RePEc:nsr:niesrd:11169

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Cited by:
  1. Justin van de Ven, 2013. "The Influence of Decision Costs on Investments in Indivudual Savings Accounts," Melbourne Institute Working Paper Series wp2013n19, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.

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