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Expectations and Saving Behavior: An Empirical Analysis

  • Stefan Arent

In this paper we analyze the impact of the expectations about future labor income on thesaving behavior of German households. We measure expectations on an individual basisinstead of generalized risk measures as it is common in existing studies. We use aunique panel data set on household savings. We find that that a higher unemploymentexpectation significantly decreases savings. However, we are not able to identify asignificant relationship between general future income expectations and savings. Moreover,we find that good health expectations increase savings in Western Germany, butdecrease the savings in Eastern Germany.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-Ifo_Working_Papers/wp-ifo-2012/IfoWorkingPaper-128.pdf
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Paper provided by Ifo Institute for Economic Research at the University of Munich in its series Ifo Working Paper Series with number Ifo Working Paper No. 128.

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Date of creation: 2012
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Handle: RePEc:ces:ifowps:_128
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  1. Erik Hornung, 2012. "Railroads and Micro-regional Growth in Prussia," Ifo Working Paper Series Ifo Working Paper No. 127, Ifo Institute for Economic Research at the University of Munich.
  2. Christopher D Carroll & Karen E Dynan & Spencer D Krane, 1999. "Unemployment Risk and Precautionary Wealth: Evidence from Households' Balance Sheets," Economics Working Paper Archive 416, The Johns Hopkins University,Department of Economics.
  3. Eeckhoudt, Louis & Schlesinger, Harris, 2008. "Changes in risk and the demand for saving," Journal of Monetary Economics, Elsevier, vol. 55(7), pages 1329-1336, October.
  4. Ekern, Steinar, 1980. "Increasing Nth degree risk," Economics Letters, Elsevier, vol. 6(4), pages 329-333.
  5. Stefan Arent & Alexander Eck & Michael Kloss & Oskar Krohmer, 2012. "Income Risk, Saving and Taxation:Will Precautionary Saving Survive?," Ifo Working Paper Series Ifo Working Paper No. 125, Ifo Institute for Economic Research at the University of Munich.
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