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Saving behaviour and earnings uncertainty: Evidence from the British Household Panel Survey

Author

Listed:
  • Alessandra Guariglia

    (Department of Economics, Keynes College, University of Kent at Canterbury, Canterbury, CT2 7NP, United Kingdom)

Abstract

For the first time, this paper uses a panel data set, the British Household Panel Survey, to analyse saving behaviour in Britain. One objective is to test the precautionary saving hypothesis, according to which households save to self-insure against uncertainty. Our results show that in accordance with this hypothesis, various measures of uncertainty based on earnings variability have a statistically significant effect on households' saving decisions. Moreover, in accordance with the life cycle model, households save more if they expect their financial situation to deteriorate.

Suggested Citation

  • Alessandra Guariglia, 2001. "Saving behaviour and earnings uncertainty: Evidence from the British Household Panel Survey," Journal of Population Economics, Springer;European Society for Population Economics, vol. 14(4), pages 619-634.
    • Handle: RePEc:spr:jopoec:v:14:y:2001:i:4:p:619-634
    Note: Received: 15 June 1999/Accepted: 4 January 2001
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    More about this item

    Keywords

    Precautionary saving; uncertainty; earnings variability;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • 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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