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Precautionary Saving and Health Risk. Evidence from Italian Households Using a Time Series of Cross Sections

Author

Listed:
  • Vincenzo Atella

    (Università di Roma "Tor Vergata")

  • Furio C. Rosati

    (Università di Roma "Tor Vergata")

  • Mariacristina Rossi

    (Università di Roma "Tor Vergata")

Abstract

In this paper we analyse the importance of precautionary saving in Italy. In contrast to previous studies, we focus on two contemporaneous sources of uncertainty, income and health expenditures, to explain the presence of precautionary saving. The major changes occurred in public health care policies from 1985 to 1996 have caused households to pay a larger share of their outof-the-pocket medical expenditures. We therefore expect consumers to react to this uncertainty by generating precautionary saving.Our results show strong support for the precautionary savinghypothesis as a response to health uncertainty.

Suggested Citation

  • Vincenzo Atella & Furio C. Rosati & Mariacristina Rossi, 2006. "Precautionary Saving and Health Risk. Evidence from Italian Households Using a Time Series of Cross Sections," Rivista di Politica Economica, SIPI Spa, vol. 96(3), pages 113-132, May-June.
    • Handle: RePEc:rpo:ripoec:v:96:y:2006:i:3:p:113-132
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    Citations

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    Cited by:

    1. Angrisani, Marco & Atella, Vincenzo & Brunetti, Marianna, 2018. "Public health insurance and household portfolio Choices: Unravelling financial “Side Effects” of Medicare," Journal of Banking & Finance, Elsevier, vol. 93(C), pages 198-212.
    2. Tullio Jappelli & Luigi Pistaferri & Guglielmo Weber, 2007. "Health care quality, economic inequality, and precautionary saving," Health Economics, John Wiley & Sons, Ltd., vol. 16(4), pages 327-346, April.
    3. Vincenzo Atella & Federico Belotti & Valentina Conti & Claudio Cricelli & Joanna Kopinska & Andrea Piano Mortari, 2016. "Modeling public health care expenditure using patient level data: Empirical evidence from Italy," CEIS Research Paper 367, Tor Vergata University, CEIS, revised 10 Feb 2016.
    4. Vincenzo Atella & Joanna Kopinska, 2014. "The impact of cost-sharing schemes on drug compliance in Italy: evidence based on quantile regression," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 59(2), pages 329-339, April.
    5. Atella, Vincenzo & Brunetti, Marianna & Maestas, Nicole, 2012. "Household portfolio choices, health status and health care systems: A cross-country analysis based on SHARE," Journal of Banking & Finance, Elsevier, vol. 36(5), pages 1320-1335.
    6. Mariacristina Rossi & Dario Sansone, 2018. "Precautionary savings and the self-employed," Small Business Economics, Springer, vol. 51(1), pages 105-127, June.
    7. Bai, Chong-En & Wu, Binzhen, 2014. "Health insurance and consumption: Evidence from China’s New Cooperative Medical Scheme," Journal of Comparative Economics, Elsevier, vol. 42(2), pages 450-469.

    More about this item

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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