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Saving response to unemployment of a sibling

Kiichi Tokuoka ()

Journal of Economic Behavior & Organization, 2013, vol. 89, issue C, 58-75

Abstract: Standard theoretical models of household saving behavior do not typically assume that household perceptions of the world change in response to observed events. In light of the potential importance of such perception changes (e.g., after a financial crisis), this paper considers the hypothesis that a household's saving rate rises through informal learning after a sibling (direct or in-law) has been unemployed. The empirical results in this paper are consistent with the learning hypothesis, with coefficients estimated by the instrumental variable (IV) method implying that a household's saving rate increases by 2–3 percentage points if a sibling has been unemployed.

Keywords: Saving; Learning; Unemployment; Sibling (search for similar items in EconPapers)
JEL-codes: D12 D83 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:89:y:2013:i:c:p:58-75

DOI: 10.1016/j.jebo.2013.03.010

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Journal of Economic Behavior & Organization is currently edited by Houser, D. and Puzzello, D.

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