Precautionary Saving and Endogenous Labor Supply with and without Intertemporal Expected Utility

Diego Nocetti and William T. Smith

Journal of Money, Credit and Banking, 2011, vol. 43, issue 7, 1475-1504

Abstract: We analyze precautionary saving behavior in a framework with labor and nonlabor income risks, an endogenous supply of labor, and a representation of preferences that disentangles attitudes toward risk, attitudes toward intertemporal substitution, and ordinal preferences for consumption and leisure. This preference structure allows us to disentangle and to describe in an intuitive way the different forces that determine precautionary saving “in the small” and “in the large.”

Date: 2011
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https://doi.org/10.1111/j.1538-4616.2011.00432.x

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Journal Article: Precautionary Saving and Endogenous Labor Supply with and without Intertemporal Expected Utility (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:43:y:2011:i:7:p:1475-1504

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