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The Relevance of Precautionary Saving

Author

Listed:
  • Ventura Luigi

    (University of Rome ‘La Sapienza’,Rome, Italy)

  • Eisenhauer Joseph G.

    (Canisius College, Buffalo,New York, United States of America)

Abstract

This paper develops a model of personal saving that includes, unlike previous models appearing in the literature, an explicit role for the Leland-Kimball measure of prudence. Estimation of the model using Bank of Italy survey data suggests that about 20 per cent of total saving is driven by precautionary reasons.

Suggested Citation

  • Ventura Luigi & Eisenhauer Joseph G., 2005. "The Relevance of Precautionary Saving," German Economic Review, De Gruyter, vol. 6(1), pages 23-35, February.
    • Handle: RePEc:bpj:germec:v:6:y:2005:i:1:p:23-35
    DOI: 10.1111/j.1465-6485.2005.00120.x
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    Cited by:

    1. Filippo Pericoli & Luigi Ventura, 2012. "Family dissolution and precautionary savings: an empirical analysis," Review of Economics of the Household, Springer, vol. 10(4), pages 573-595, December.
    2. Lars-Fredrik Andersson & Liselotte Eriksson, 2015. "The compulsory public pension and the demand for life insurance: the case of Sweden, 1884–1914," Economic History Review, Economic History Society, vol. 68(1), pages 244-263, February.
    3. Luc Arrondel & Hector Calvo Pardo, 2008. "Les Français sont-ils prudents ? Patrimoine et risque sur les revenus des ménages," PSE Working Papers halshs-00585994, HAL.
    4. 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.
    5. Klemm, Marcus, 2012. "Job Security Perceptions and the Saving Behavior of German Households," Ruhr Economic Papers 380, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    6. repec:ebl:ecbull:v:4:y:2007:i:23:p:1-11 is not listed on IDEAS
    7. Barasinska, Nataliya & Schäfer, Dorothea & Stephan, Andreas, 2012. "Individual Risk Attitudes and the Composition of Financial Portfolios: Evidence from German Household Portfolios," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 52(1), pages 1-14.
    8. Lars Fredrik Andersson & Liselotte Eriksson, 2013. "Compulsory public pension and the demand for life insurance: the case of Sweden," Working Papers 13030, Economic History Society.
    9. Bando, Rosangela & Uribe, Claudia, 2016. "Experimental Evidence on Credit Constraints," IDB Publications (Working Papers) 7491, Inter-American Development Bank.

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