haku: @indexterm GROWTH / yhteensä: 1010
viite: 323 / 1010
| Tekijä: | Banks, J. Blundell, R. Brugiavini, A. |
| Otsikko: | Risk pooling, precautionary saving and consumption growth |
| Lehti: | Review of Economic Studies
2001 : OCT, VOL. 68:4(237), s. 757-779 |
| Asiasana: | CONSUMPTION GROWTH INCOMES RISK SAVINGS UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | In this paper the authors model the evolution of income risk and consumption growth. They decompose the time series innovation of the income process into its common and cohort-specific components. From these they compute conditional variances which are used as separate risk terms in a consumption growth equation. Using a long series of British household data they exploit the time-series variation to identify precautionary saving effects and find strong evidence of their importance. |
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