Arbeitspapier
Buffer-stock saving and households' response to income shocks
We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk implied by the estimated model. We find that Italian households insure between 89 and 95 percent of a transitory and between 7 and 9 percent of a permanent income shock. Our estimates are in line with empirical estimates for the same dataset, that do not impose any model structure on the consumption process. This suggests that Italian households do not have access to significant insurance beyond that implied by self-insurance.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 825
- Klassifikation
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Macroeconomics: Consumption; Saving; Wealth
- Thema
-
Consumption
Wealth
Incomplete markets
Insurance
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fella, Giulio
Frache, Serafin
Koeniger, Winfried
- Ereignis
-
Veröffentlichung
- (wer)
-
Queen Mary University of London, School of Economics and Finance
- (wo)
-
London
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Fella, Giulio
- Frache, Serafin
- Koeniger, Winfried
- Queen Mary University of London, School of Economics and Finance
Entstanden
- 2017
Ähnliche Objekte (12)
Buffer-Stock Saving and Households' Response to Income Shocks
Buffer-Stock Saving and Households' Response to Income Shocks
Buffer-stock saving and households' response to income shocks
Buffer-stock saving and households' response to income shocks
Buffer-stock savings and households' wealth response to income shocks
Does fixed income buffer against fraud shocks?
Income uncertaintyand household savings in China
Household savings decision and income uncertainty
Uncertain pension income and household saving
Household savings decision and income uncertainty
Capital income taxation and household saving
Income Uncertainty and Household Savings in China
Buffer-Stock Saving and Households' Response to Income Shocks
Buffer-Stock Saving and Households' Response to Income Shocks
Buffer-stock saving and households' response to income shocks
Buffer-stock saving and households' response to income shocks
Buffer-stock savings and households' wealth response to income shocks
Does fixed income buffer against fraud shocks?
Income uncertaintyand household savings in China
Household savings decision and income uncertainty
Uncertain pension income and household saving
Household savings decision and income uncertainty
Capital income taxation and household saving
Income Uncertainty and Household Savings in China
Buffer-Stock Saving and Households' Response to Income Shocks
Buffer-Stock Saving and Households' Response to Income Shocks
Buffer-stock saving and households' response to income shocks
Buffer-stock saving and households' response to income shocks
Buffer-stock savings and households' wealth response to income shocks
Does fixed income buffer against fraud shocks?
Income uncertaintyand household savings in China
Household savings decision and income uncertainty
Uncertain pension income and household saving
Household savings decision and income uncertainty
Capital income taxation and household saving