Consumption and uncertainty: a panel analysis in Italian Regions
This work tests precautionary saving theory in Italian regions, examining the relationship between consumption growth and income uncertainty in a panel of five-year averages in the period 1981 to 2000. The analysis used two different measures for income uncertainty. The first is a naive measure given by the variance of GDP growth rates while the second is a more sophisticated one obtained by computing the conditional variance by means of the expectation of GDP growth. This expectation is obtained by using the best ARMA process for each region. The results obtained confirm the importance of the precautionary saving motive in consumption decisions.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 14 (2007)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEL20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEL20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Menegatti, Mario, 2001. "On the Conditions for Precautionary Saving," Journal of Economic Theory, Elsevier, vol. 98(1), pages 189-193, May.
- Lyhagen, Johan, 1997. "The Effect of Precautionary Saving on Consumption in Sweden," Working Papers 58, National Institute of Economic Research.
- Karen E. Dynan, 1993. "How prudent are consumers?," Working Paper Series / Economic Activity Section 135, Board of Governors of the Federal Reserve System (U.S.).
- Guiso, Luigi & Jappelli, Tullio & Terlizzese, Daniele, 1992.
"Earnings uncertainty and precautionary saving,"
Journal of Monetary Economics,
Elsevier, vol. 30(2), pages 307-337, November.
- Giucca, P. & Jappelli, T. & Terlizzese, D., 1992. "Earning Uncertainty and Precautionary Saving," Papers 161, Banca Italia - Servizio di Studi.
- Guiso, Luigi & Jappelli, Tullio & Terlizzese, Daniele, 1992. "Earnings Uncertainty and Precautionary Saving," CEPR Discussion Papers 699, C.E.P.R. Discussion Papers.
- Steigerwald, Doug, 1997.
"Consumption Adjustment under Changing Income Uncertainty,"
University of California at Santa Barbara, Economics Working Paper Series
qt5kp8k6xc, Department of Economics, UC Santa Barbara.
- Hahm, J.-H. & Steigerwald, D.G., 1998. "Consumption Adjustment under Changing Income Uncertainty," Papers 345, Australian National University - Department of Economics.
- Antonello Scorcu, 1998. "Consumption risk-sharing in Italy," Applied Economics, Taylor & Francis Journals, vol. 30(3), pages 407-414.
- Dynan, Karen E, 1993. "How Prudent Are Consumers?," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1104-13, December.
- Alessandra Guariglia & Byung-Yeon Kim, 2003.
"The Effects of Consumption Variability on Saving: Evidence from a Panel of Muscovite Households,"
Oxford Bulletin of Economics and Statistics,
Department of Economics, University of Oxford, vol. 65(3), pages 357-377, 07.
- Guariglia, Alessandra & Kim, Byung-Yeon, 1999. "The effects of consumption variability on savings, evidence from a panel of Muscovite households," Economics Discussion Papers 10000, University of Essex, Department of Economics.
- Johan Lyhagen, 2001. "The effect of precautionary saving on consumption in Sweden," Applied Economics, Taylor & Francis Journals, vol. 33(5), pages 673-681.
When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:14:y:2007:i:1:p:39-42. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.