Disentangling The Importance Of The Precautionary Saving Motive

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Disentangling the Importance of the Precautionary Saving Motive

Author : Arthur B. Kennickell
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Disentangling the Importance of the Precautionary Saving Motive by : Arthur B. Kennickell

Download or read book Disentangling the Importance of the Precautionary Saving Motive written by Arthur B. Kennickell and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate the importance of the precautionary saving motive by relying on a direct question about precautionary wealth from the 1995 and 1998 waves of the Survey of Consumer Finances. In this survey, a new question has been designed to elicit the amount of desired precautionary wealth. This allows us to assess the amount of precautionary accumulation and to overcome many of the problems of previous works on this topic. We find that a precautionary saving motive exists and affects virtually every type of household. However, precautionary savings account for only 8 percent of total wealth holdings. Even though this motive does not give rise to large amounts of wealth, particularly for young and middle-age households, it is particularly important for two groups: older households and business owners. Overall, we provide strong evidence that we need to take the precautionary saving motive into account when modeling saving behavior.

Disentangling the Importance of the Precautionary Saving Motive

Author : Arthur Kennickell
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (899 download)

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Book Synopsis Disentangling the Importance of the Precautionary Saving Motive by : Arthur Kennickell

Download or read book Disentangling the Importance of the Precautionary Saving Motive written by Arthur Kennickell and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Disentangling the Importance of the Precautionary Saving Mode

Author : Arthur B. Kennickell
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (571 download)

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Book Synopsis Disentangling the Importance of the Precautionary Saving Mode by : Arthur B. Kennickell

Download or read book Disentangling the Importance of the Precautionary Saving Mode written by Arthur B. Kennickell and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We assess the importance of the precautionary saving motive by relying on a direct question about precautionary wealth from the 1995 and 1998 waves of the Survey of Consumer Finances. In this survey, a new question has been designed to elicit the amount of desired precautionary wealth. This allows us to bound the amount of precautionary accumulation and to overcome many of the problems of previous works on this topic. We find that a precautionary saving motive exists and affects virtually every type of household. Even though this motive does not give rise to large amounts of wealth for young and middle-age households, it is particularly important for two groups: older households and business owners. Overall, we provide strong evidence that we need to take the precautionary saving motive into account when modeling saving behavior"--National Bureau of Economic Research web site

Disentangling the Importance of the Precuationary Saving Mode

Author : Arthur Kennickell
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (611 download)

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Book Synopsis Disentangling the Importance of the Precuationary Saving Mode by : Arthur Kennickell

Download or read book Disentangling the Importance of the Precuationary Saving Mode written by Arthur Kennickell and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess the importance of the precautionary saving motive by relying on a direct question about precautionary wealth from the 1995 and 1998 waves of the Survey of Consumer Finances. In this survey, a new question has been designed to elicit the amount of desired precautionary wealth. This allows us to bound the amount of precautionary accumulation and to overcome many of the problems of previous works on this topic. We find that a precautionary saving motive exists and affects virtually every type of household. Even though this motive does not give rise to large amounts of wealth for young and middle-age households, it is particularly important for two groups: older households and business owners. Overall, we provide strong evidence that we need to take the precautionary saving motive into account when modeling saving behavior.

Disentangling the Importance of the Precautionary Saving Motive

Author : Arthur B. Kennickell
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Disentangling the Importance of the Precautionary Saving Motive by : Arthur B. Kennickell

Download or read book Disentangling the Importance of the Precautionary Saving Motive written by Arthur B. Kennickell and published by . This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess the importance of the precautionary saving motive by relying on a direct question about precautionary wealth from the 1995 and 1998 waves of the Survey of Consumer Finances. In this survey, a new question has been designed to elicit the amount of desired precautionary wealth. This allows us to bound the amount of precautionary accumulation and to overcome many of the problems of previous works on this topic. We find that a precautionary saving motive exists and affects virtually every type of household. Even though this motive does not give rise to large amounts of wealth for young and middle-age households, it is particularly important for two groups: older households and business owners. Overall, we provide strong evidence that we need to take the precautionary saving motive into account when modeling saving behavior.

Precautionary Savings and the Importance of Business Owners

Author : Erik Hurst
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Precautionary Savings and the Importance of Business Owners by : Erik Hurst

Download or read book Precautionary Savings and the Importance of Business Owners written by Erik Hurst and published by . This book was released on 2005 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving motive. Since business owners hold larger amounts of wealth than other households for non-precautionary reasons and also face highly volatile income, they induce a correlation between wealth and income risk regardless of whether or not a precautionary saving motive exists. Using data from the Panel Study of Income Dynamics in the 1980s and the 1990s, we show that among both business owners and non-business owners, the size of precautionary savings with respect to labor income risk is modest and accounts for less than ten percent of total household wealth. However, pooling together the two groups leads to an artificially high estimate of the importance of precautionary savings. New data from the Survey of Consumer Finances further confirms that precautionary savings account for less than ten percent of total wealth for both business owners and non-business owners. Thus, while a precautionary saving motive exists and affects all households, it does not give rise to high amounts of wealth in the economy, particularly among those households who face the most volatile stream of income.

Precautionary Savings and the Importance of Business Owners

Author : Erik Hurst
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis Precautionary Savings and the Importance of Business Owners by : Erik Hurst

Download or read book Precautionary Savings and the Importance of Business Owners written by Erik Hurst and published by . This book was released on 2005 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving motive. Since business owners hold larger amounts of wealth than other households for non-precautionary reasons and also face highly volatile income, they induce a correlation between wealth and income risk regardless of whether or not a precautionary saving motive exists. Using data from the Panel Study of Income Dynamics in the 1980s and the 1990s, we show that among both business owners and non-business owners, the size of precautionary savings with respect to labor income risk is modest and accounts for less than ten percent of total household wealth. However, pooling together the two groups leads to an artificially high estimate of the importance of precautionary savings. New data from the Survey of Consumer Finances further confirms that precautionary savings account for less than ten percent of total wealth for both business owners and non-business owners. Thus, while a precautionary saving motive exists and affects all households, it does not give rise to high amounts of wealth in the economy, particularly among those households who face the most volatile stream of income"--National Bureau of Economic Research web site.

Accidental Conflict

Author : Stephen Roach
Publisher : Yale University Press
ISBN 13 : 0300269013
Total Pages : 448 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Accidental Conflict by : Stephen Roach

Download or read book Accidental Conflict written by Stephen Roach and published by Yale University Press. This book was released on 2022-11-08 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: The misguided forces driving conflict escalation between America and China, and the path to a new relationship “A timely, fluid, readable assessment of a testy and rapidly changing global relationship.”—Kirkus Reviews (starred review) In the short span of four years, America and China have entered a trade war, a tech war, and a new Cold War. This conflict between the world’s two most powerful nations wouldn’t have happened were it not for an unnecessary clash of false narratives. America falsely blames its trade and technology threats on China yet overlooks its shaky saving foundation. China falsely blames its growth challenges on America’s alleged containment of market-based socialism, ignoring its failed economic rebalancing. In a hard-hitting analysis of both nations’ economies, politics, and policies, Stephen Roach argues that much of the rhetoric on both sides is dangerously misguided, amplified by information distortion, and more a reflection of each nation’s fears and vulnerabilities than a credible assessment of the risks they face. Outlining the disastrous toll of conflict escalation between China and America, Roach offers a new road map to restoring a mutually advantageous relationship.

The New Palgrave Dictionary of Economics

Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)

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Book Synopsis The New Palgrave Dictionary of Economics by :

Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.

A Fragile Balance

Author : J. Collins
Publisher : Springer
ISBN 13 : 1137482370
Total Pages : 399 pages
Book Rating : 4.1/5 (374 download)

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Book Synopsis A Fragile Balance by : J. Collins

Download or read book A Fragile Balance written by J. Collins and published by Springer. This book was released on 2015-03-11 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Fragile Balance examines strategies to promote emergency savings, especially among underserved households. Each chapter is by an expert contributor and proposes an innovative financial product or service designed to bolster emergency savings among low-asset families. This collection also offers readers insights into the role of emergency savings and mechanisms to facilitate savings behaviors, and raises critical questions of the scale, institutional capacity, sustainability, accessibility, and effectiveness of existing programs.

Counting the Poor

Author : Douglas J. Besharov
Publisher : Oxford University Press
ISBN 13 : 0199860599
Total Pages : pages
Book Rating : 4.1/5 (998 download)

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Book Synopsis Counting the Poor by : Douglas J. Besharov

Download or read book Counting the Poor written by Douglas J. Besharov and published by Oxford University Press. This book was released on 2012-06-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The poverty rate is one of the most visible ways in which nations measure the economic well-being of their low-income citizens. To gauge whether a person is poor, European states often focus on a person's relative position in the income distribution to measure poverty while the United States looks at a fixed-income threshold that represents a lower relative standing in the overall distribution to gauge. In Europe, low income is perceived as only one aspect of being socially excluded, so that examining other relative dimensions of family and individual welfare is important. This broad emphasis on relative measures of well-being that extend into non-pecuniary aspects of people's lives does not always imply that more people would ultimately be counted as poor. This is particularly true if one must be considered poor in multiple dimensions to be considered poor, in sharp contrast to the American emphasis on income as the sole dimension. With contributions from the world's foremost authorities on income and social measurement, the book provides detailed discussions of specific issues from a European perspective followed by commentary from American observers. The volume considers (1) current standards of poverty measurement in the European Union and the Organization for Economic Co-operation and Development, (2) challenges in extending those measures to account for the value of the provision of in-kind and cash benefits from the government, (3) the interaction of poverty measures with social assistance, (4) non-income but monetary measures of poverty, and (5) multi-dimensional measures of poverty. The result is a definitive reference for poverty researchers and policymakers seeking to disengage politics from measurement.

Economic Psychology

Author : Rob Ranyard
Publisher : John Wiley & Sons
ISBN 13 : 111892634X
Total Pages : 512 pages
Book Rating : 4.1/5 (189 download)

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Book Synopsis Economic Psychology by : Rob Ranyard

Download or read book Economic Psychology written by Rob Ranyard and published by John Wiley & Sons. This book was released on 2017-08-14 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive overview of contemporary economic psychology Economic Psychology presents an accessible overview of contemporary economic psychology. The science of economic mental life and behavior is increasingly relevant as people are expected to take more responsibility for their household and personal economic decisions. The text will, in addition to reviewing current knowledge on each topic presented, consider the practical and policy implications for supporting economic decision making. Economic Psychology examines the central aspects of adult decision making in everyday life and includes the theories of economic decision making based on risk, value and affect, and theories of intertemporal choice. The text reviews the nature and behavioral consequences of economic mental representations about such things as material possessions, money and the economy. The editor Robert Ranyard—a noted expert on economic psychology—presents a life-span developmental approach, from childhood to old age. He also reviews the important societal issues such as charitable giving and economic sustainability. This vital resource: Reviews the economic psychology in everyday life including financial behaviour such as saving and tax-paying and matters such as entrepreneurial activity Offers an introduction to the field and traces the emergence of the discipline, from Adam Smith to George Katona and Herbert Simon Includes information on societal issues such as charitable giving and pro-environmental behaviour Considers broader perspectives on economic psychology: life-span psychological development from childhood to old age Written for students of psychology, Economic Psychology reviews the most important information on contemporary economic psychology with a focus on individual and household economic decision making, ranging widely across financial matters such as borrowing and saving, and economic activities such as buying, trading, and working.

Handbook of Computable General Equilibrium Modeling

Author : Peter B. Dixon
Publisher : Newnes
ISBN 13 : 044462631X
Total Pages : 1886 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of Computable General Equilibrium Modeling by : Peter B. Dixon

Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-01-08 with total page 1886 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy

Broke

Author : Katherine Porter
Publisher : Stanford University Press
ISBN 13 : 0804780587
Total Pages : 322 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Broke by : Katherine Porter

Download or read book Broke written by Katherine Porter and published by Stanford University Press. This book was released on 2012-01-11 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: About 1.5 million households filed bankruptcy in the last year, making bankruptcy as common as college graduation and divorce. The recession has pushed more and more families into financial collapse—with unemployment, declines in retirement wealth, and falling house values destabilizing the American middle class. Broke explores the consequences of this unprecedented growth in consumer debt and shows how excessive borrowing undermines the prosperity of middle class America. While the recession that began in mid-2007 has widened the scope of the financial pain caused by overindebtedness, the problem predated that large-scale economic meltdown. And by all indicators, consumer debt will be a defining feature of middle-class families for years to come. The staples of middle-class life—going to college, buying a house, starting a small business—carry with them more financial risk than ever before, requiring more borrowing and new riskier forms of borrowing. This book reveals the people behind the statistics, looking closely at how people get to the point of serious financial distress, the hardships of dealing with overwhelming debt, and the difficulty of righting one's financial life. In telling the stories of financial failures, this book exposes an all-too-real part of middle-class life that is often lost in the success stories that dominate the American economic narrative. Authored by experts in several disciplines, including economics, law, political science, psychology, and sociology, Broke presents analyses from an original, proprietary data set of unprecedented scope and detail, the 2007 Consumer Bankruptcy Project. Topics include class status, home ownership, educational attainment, impacts of self-employment, gender differences, economic security, and the emotional costs of bankruptcy. The book makes judicious use of illustrations to present key findings and concludes with a discussion of the implications of the data for contemporary policy debates.

Surveying the Aftermath of the Storm: Changes in Family Finances from 2007 to 2009

Author :
Publisher : DIANE Publishing
ISBN 13 : 1437984053
Total Pages : 37 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Surveying the Aftermath of the Storm: Changes in Family Finances from 2007 to 2009 by :

Download or read book Surveying the Aftermath of the Storm: Changes in Family Finances from 2007 to 2009 written by and published by DIANE Publishing. This book was released on with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Brookings Papers on Economic Activity: Spring 2011

Author : David H. Romer
Publisher : Brookings Institution Press
ISBN 13 : 0815722222
Total Pages : 421 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Brookings Papers on Economic Activity: Spring 2011 by : David H. Romer

Download or read book Brookings Papers on Economic Activity: Spring 2011 written by David H. Romer and published by Brookings Institution Press. This book was released on 2011-09-15 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brookings Papers on Economic Activity: Spring 2011 • Job Search, Emotional Well-Being, and Job Finding in a Period of Mass Unemployment: Evidence from High-Frequency Longitudinal Data By Alan B. Krueger and Andreas Mueller • Financially Fragile Households: Evidence and Implications By Annamaria Lusardi, Daniel Schneider, and Peter Tufano • Let's Twist Again: A High-Frequency Event-Study Analysis of Operation Twist and Its Implications for QE2 By Eric T. Swanson • An Exploration of Optimal Stabilization Policy By N. Gregory Mankiw and Matthew Weinzierl • What Explains the German Labor Market Miracle in the Great Recession? By Michael C. Burda and Jennifer Hunt • Inflation Dynamics and the Great Recession By Laurence Ball and Sandeep Mazumder

Individual Behaviors and Technologies for Financial Innovations

Author : Wesley Mendes-Da-Silva
Publisher : Springer
ISBN 13 : 3319919113
Total Pages : 395 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Individual Behaviors and Technologies for Financial Innovations by : Wesley Mendes-Da-Silva

Download or read book Individual Behaviors and Technologies for Financial Innovations written by Wesley Mendes-Da-Silva and published by Springer. This book was released on 2018-07-26 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers comprehensive examination of research on the relevance of individual behavior and technology to financial innovations. The chapters cover current topics in finance including integrated reporting, people finance, crowdfunding, and corporate networks. It provides readers with an organized starting point to explore individual behaviors and new technologies used in financial innovations. The explicit and growing speed of the spread of new technologies has hastened the emergence of innovation in the field of finance. Topics like the Internet of Things, semantic computing and big data finance are motivating the construction of financial tools that translate into new financial mechanisms. This book strives help readers better understand the dynamic of the changes in financial systems and the proliferation of financial products. Individual Behaviors and Technologies for Financial Innovations is organized in 16 chapters, organized in three parts. Part I has eight chapters that review the research on gender differences in attitudes about risk and propensity to purchase automobile insurance, financial literacy models for college students, wellness and attitude of university students in the use of credit cards, impact of programs income distribution and propensity to remain in employment, financial literacy and propensity to resort to informal financing channels, risk behavior in the use of credit cards by students. Part II reviews the research on financing for startups and SMEs, exploring funding through crowdfunding platform, operating credit unions, and using networks of friends to finance small businesses outside the domestic market. The four chapters of Part III describe contexts of financial innovation in listed companies, including society's demands on their behavior - we discuss motivations for companies to participate in corporate sustainability indexes, corporate performance through their profile of socially responsible investments, influence of networks of social relations in the formation of boards, and management of companies, and also the precariousness of financial decisions in large companies, as well as the role of the internet in corporate communication with the market.