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Precautionary Saving From Different Sources Of Income
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Book Synopsis Precautionary Saving from Different Sources of Income by : Adams, Jr. (Richard H.)
Download or read book Precautionary Saving from Different Sources of Income written by Adams, Jr. (Richard H.) and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of past literature has assumed that households in developing countries save at the same marginal rate from all sources of income. But in rural Pakistan households save at very different marginal rates from different sources of income. The marginal propensity to save from those sources of income that are more variable and uncertain - like external remittances - is much higher than from those sources of income that are more predictable - like rental income.Few studies have tried to measure how households in a developing country save from each of the different income sources at their disposal. To help fill that gap, Adams uses five-year panel data to examine how households in rural Pakistan save from each of seven separate sources of income. Adams finds that households save from different sources of income at significantly different marginal rates. For example, the marginal propensity to save from external remittances (0.711) is much higher than that for rental income (0.085). As the precautionary model of saving suggests, the reasons for this relate to uncertainty: income that is more variable tends to be saved at a higher marginal rate. Faced with incomplete capital and credit markets, households in rural Pakistan save quot;for a rainy dayquot; by putting away mainly those sources of income that are more variable and uncertain.This paper - a product of the Poverty Reduction Group, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to understand how households use savings for investment and development in developing countries.
Book Synopsis Precautionary Saving from Different Sources of Income by : Richard H. Adams
Download or read book Precautionary Saving from Different Sources of Income written by Richard H. Adams and published by World Bank Publications. This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of past literature has assumed that households in developing countries save at the same marginal rate from all sources of income. But in rural Pakistan households save at very different marginal rates from different sources of income. The marginal propensity to save from those sources of income that are more variable and uncertain --- like external remittances --- is much higher than from those sources of income that are more predictable --- like rental income.
Book Synopsis Precautionary Saving from Different Sources of Income by : Richard H. Adams (Jr)
Download or read book Precautionary Saving from Different Sources of Income written by Richard H. Adams (Jr) and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Few studies have tried to measure how households in a developing country save from each of the different income sources at their disposal. To help fill that gap, the Author uses five-year panel data to examine how households in rural Pakistan save from each of the seven separate sources of income. The author finds that households save from different sources of income at significantly different marginal rates. For example, the marginal propensity to save from external remittances (0.711) is much higher than that for rental income (0.085). As the precautionary model of saving suggests, the reasons for this relate to uncertainty: income that is more variable, tends to be saved at a higher marginal rate. Faced with incomplete capital, and credit markets, households in rural Pakistan save: for a rainy day" by putting away mainly those sources of income that are more variable, and uncertain.
Book Synopsis Precautionary Saving from Different Sources of Income by : Adams H. Richard Jr.
Download or read book Precautionary Saving from Different Sources of Income written by Adams H. Richard Jr. and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Precautionary Savings from Different Sources of Income by : Richard H. Adams
Download or read book Precautionary Savings from Different Sources of Income written by Richard H. Adams and published by . This book was released on 2002 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of past literature has assumed that households in Developing countries save at the same marginal rate from all sources of income. But in rural Pakistan households save at very different marginal rates from different sources of income. The marginal propensity to save from those sources of income that are more variable and uncertain, like external remittances, is much higher than from those sources of income that are more predictable, like rental income.
Book Synopsis Dissecting Saving Dynamics by : Mr.Christopher Carroll
Download or read book Dissecting Saving Dynamics written by Mr.Christopher Carroll and published by International Monetary Fund. This book was released on 2012-09-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We argue that the U.S. personal saving rate’s long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious ‘buffer stock’ model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between ‘target’ and actual wealth, with the target wealth determined by credit conditions and uncertainty. An estimated structural version of the model suggests that increased credit availability accounts for most of the saving rate’s long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business-cycle variation.
Book Synopsis Precautionary Saving and the Marginal Propensity to Consume Out of Permanent Income by : Chris Carroll
Download or read book Precautionary Saving and the Marginal Propensity to Consume Out of Permanent Income written by Chris Carroll and published by . This book was released on 2001 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because the budget constraint implies that consumption must eventually fully adjust to permanent shocks, intuition suggests that consumption-smoothers will have an immediate marginal propensity to consume of one out of permanent shocks. However, this paper shows that if consumers are impatient and experience both transitory and permanent income shocks, the immediate marginal propensity to consume out of permanent shocks is strictly less than one, because buffer-stock savers have a target wealth-to-permanent-income ratio; for a consumer starting at the target ratio, a positive shock to permanent income moves their actual wealth- to-permanent-income ratio below the target, temporarily boosting the saving rate
Book Synopsis Precautionary saving and the marginal propensity to consume out permanent income by : Christopher D. Carroll
Download or read book Precautionary saving and the marginal propensity to consume out permanent income written by Christopher D. Carroll and published by . This book was released on 2001 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Risky Income, Life Cycle Consumption and Precautionary Saving by :
Download or read book Risky Income, Life Cycle Consumption and Precautionary Saving written by and published by . This book was released on 1987 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Precautionary Saving and the Marginal Propensity to Consume Out of Permanent Income by :
Download or read book Precautionary Saving and the Marginal Propensity to Consume Out of Permanent Income written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Bureau of Economic Research, Inc. presents an abstract for the paper entitled "Precautionary Saving and the Marginal Propensity to Consume Out of Permanent Income," by Christopher D. Carroll and published April 2001. The paper discusses consumer behavior and saving and the propensity to consume from permanent income. Users may purchase the full text of the paper online.
Book Synopsis Household Welfare, Precautionary Saving and Social Insurance Under Multiple Sources of Risk by : Ivan Vidangos
Download or read book Household Welfare, Precautionary Saving and Social Insurance Under Multiple Sources of Risk written by Ivan Vidangos and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Important is Precautionary Saving? by : Chris Carroll
Download or read book How Important is Precautionary Saving? written by Chris Carroll and published by . This book was released on 1995 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the fraction of the wealth of a sample of PSID respondents that is held because some households face greater income uncertainty than others. We first derive an equation characterizing the theoretical relationship between wealth and uncertainty in a buffer-stock model of saving. Next, we estimate that equation using PSID data; we find strong evidence that households engage in precautionary saving. Finally, we simulate the wealth distribution that would prevail if all households had the same uncertainty as the lowest-uncertainty group. We find that between 39 and 46 percent of wealth in our sample is attributable to uncertainty differentials across groups.
Book Synopsis Risky income, life cycle consumption, and precautionary savings by : Jonathan Skinner
Download or read book Risky income, life cycle consumption, and precautionary savings written by Jonathan Skinner and published by . This book was released on 1987 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Understanding Consumption by : Angus Deaton
Download or read book Understanding Consumption written by Angus Deaton and published by Oxford University Press. This book was released on 1992 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: An overview of the saving and consumption patterns of households
Book Synopsis Precautionary Saving and Partially Observed Income by : Neng Wang
Download or read book Precautionary Saving and Partially Observed Income written by Neng Wang and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: I propose an intertemporal precautionary saving model in which the agent's labor income is subject to (possibly correlated) shocks with different degrees of persistence and volatility. However, he only observes his total income, not individual components. I show that partial observability of individual components of income gives rise to additional precautionary saving due to estimation risk, the error associated with estimating individual components of income. This additional precautionary saving is higher, when estimation risk is greater. Compared with a precautionary agent who is otherwise identical, but ignores estimation risk, the rational agent consumes less at the beginning of his life, but consumes more later, because of larger wealth accumulated from savings for estimation risk. The utility cost of ignoring estimation risk is also quantified in closed form.
Book Synopsis The Empirical Importance of Precautionary Saving in Turkey by : Evren Ceritoglu
Download or read book The Empirical Importance of Precautionary Saving in Turkey written by Evren Ceritoglu and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this Ph. D. thesis is to contribute to the understanding of household consumption and saving behaviour under risk and uncertainty. The precautionary saving hypothesis proposes that households will postpone their consumption and increase their saving level to be protected against future labour income uncertainty. It is reasonable to interpret the additional rise in household saving due to future labour income uncertainty as precautionary saving. Moreover, it is expected that households will prefer to keep their precautionary saving in the form of financial assets because of their liquidity. I utilize several waves of household budget surveys, which are designed as repeated cross-sectional surveys that provide information about social, economic and demographic characteristics of households to reveal the empirical importance of precautionary saving in the Turkish economy. The empirical analysis confirms the predictions of the precautionary saving hypothesis. It is observed that households raise their saving level under risk and uncertainty and the amount of precautionary saving constitutes a significant fraction of total household saving. Labour income risk is the most important source of concern for households among the analysed risk types, since a job-opportunity in the registered economy creates a reliable source of income and social security coverage. Moreover, households implement alternative strategies in addition to precautionary saving such as holding a second job and to increase the number income earners in the family. The influence of risk and uncertainty on household consumption and saving behaviour is further intensified by the lack of a sufficient social security system, which meets the needs and the demands of society. However, a comprehensive social security reform starting with the introduction of universal health care is being implemented in Turkey. Thus, it is thought that the improvement of the social security system will diminish the significance of the precautionary motive for saving for households.
Book Synopsis Precautionary Saving and the Marginal Propensity to Consume by : Miles S. Kimball
Download or read book Precautionary Saving and the Marginal Propensity to Consume written by Miles S. Kimball and published by . This book was released on 1990 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
