… The perfect-markets version of the lifecycle model has directly or indirectly contributed
much of our intuition about effects of public policies on household saving decisions. While the …

… the result of past precautionary behavior. That is, precautionary savings at any date is the
stock of extra wealth that results from the past flow of precautionary saving. To avoid confusion, …

… One category consists of policies designed to increase public saving; the other consists
of policies that are … in a way that mini mizes the impact of public policy on personal saving. …

… saving theory is in fact the consumption theory and, therefore, from a theoretical point of view,
the determinants of savings … the empirical analysis of precautionary saving, in this section …

… The model of precautionary saving that forms the basis of our empirical work is a variant
of the buffer-stock models developed by Deaton (1991) and Carroll (1992, 1997). Carroll (1992, …

… This work reviews recent developments in the literature analyzing precautionary saving.
After a description of traditional precautionary saving theory, which considers labor income risk …

… , precautionary saving can … of precautionary saving in the study of aggregate consumption
data. While statistically weak, we find that consumption growth due to precautionary saving is …

… precautionary saving, in this section we present briefly and simply the standard … : models of
intertemporal allocation and their implications for public policy. Journal of Economic literature, …

… prudence as a determinant of savings. Using data collected by … estimate the extent of
precautionary savings as a response to … policies) on personal saving and thus, capital formation. …

… the identification problem that often affects measures of precautionary saving. Departing
from the majority of studies on precautionary saving we also analyze households' response in …