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Saving response to unemployment of a sibling


  • Tokuoka, Kiichi


Standard theoretical models of household saving behavior do not typically assume that household perceptions of the world change in response to observed events. In light of the potential importance of such perception changes (e.g., after a financial crisis), this paper considers the hypothesis that a household's saving rate rises through informal learning after a sibling (direct or in-law) has been unemployed. The empirical results in this paper are consistent with the learning hypothesis, with coefficients estimated by the instrumental variable (IV) method implying that a household's saving rate increases by 2–3 percentage points if a sibling has been unemployed.

Suggested Citation

  • Tokuoka, Kiichi, 2013. "Saving response to unemployment of a sibling," Journal of Economic Behavior & Organization, Elsevier, vol. 89(C), pages 58-75.
  • Handle: RePEc:eee:jeborg:v:89:y:2013:i:c:p:58-75
    DOI: 10.1016/j.jebo.2013.03.010

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    References listed on IDEAS

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    Cited by:

    1. repec:spr:empeco:v:52:y:2017:i:4:d:10.1007_s00181-016-1120-6 is not listed on IDEAS
    2. Aneta Maria Kłopocka & Tomasz Kopczyński & Grażyna Lenicka-Bajer, 2014. "Financial Situation And Attitudes Towards Saving In Polish Society:Evidence From Micro Data," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 476-486, May.
    3. Lehtoranta, Antti, 2014. "Childhood experience of father's job loss and stock market participation," Research Discussion Papers 30/2014, Bank of Finland.
    4. Kiichi Tokuoka, 2015. "Do Consumers Learn from Their Own Experiences?," The Japanese Economic Review, Japanese Economic Association, vol. 66(4), pages 466-491, December.

    More about this item


    Saving; Learning; Unemployment; Sibling;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness


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