Precautionary savings and the self-employed
Mariacristina Rossi () and
Dario Sansone ()
Small Business Economics, 2018, vol. 51, issue 1, 105-127
Abstract This work focuses on the impact of uncertainty on savings under bequest form. Specifically, we estimate whether and to what extent income variability does have an effect on post-mortem savings. We approximate the post-mortem savings with the closest dedicated savings, which is savings in term insurance, a lump sum inherited at the death of the subscriber. Furthermore, we test whether the intensity of the income variance or the riskiness of the job type—such as self-employment—matters more in the choice. Our results show that self-employment status is one of the most relevant variables affecting term insurance ownership.
Keywords: Precautionary savings; Bequest; Term insurance; Self-employment; Uncertainty; D91; E21; G11; J10; L26 (search for similar items in EconPapers)
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