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The effect of precautionary saving on consumption in Sweden
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Information Science.
2001 (English)In: Applied Economics, ISSN 0003-6846, E-ISSN 1466-4283, Vol. 33, no 5, 673-681 p.Article in journal (Refereed) Published
Abstract [en]

Uncertainty concerning future income lowers consumption. This is often called the precautionary demand for savings. In this paper the existence of precautionary savings. In this paper the existence of precautionary saving is investigated using Swedish data for the years 1973–1992. As there are no variables for consumers' uncertainty a proxy is used. Assuming an underlying distribution of attitudinal data, a variance series is derived. Including the proxy in different specifications of the consumption function, indication of precautionary saving can be found. As a result, no uncertainty would raise consumption by 4.9%.

Place, publisher, year, edition, pages
2001. Vol. 33, no 5, 673-681 p.
National Category
Probability Theory and Statistics
URN: urn:nbn:se:uu:diva-42767DOI: 10.1080/00036840122493ISI: 000167973200012OAI: oai:DiVA.org:uu-42767DiVA: diva2:70669
Available from: 2008-10-17 Created: 2008-10-17 Last updated: 2012-02-09Bibliographically approved

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Lyhagen, Johan
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