• Medientyp: E-Book
  • Titel: Consumption and Precautionary Saving : An Empirical Analysis Under Both Financial and Environmental Risks
  • Beteiligte: Baiardi, Donatella [VerfasserIn]; Manera, Matteo [Sonstige Person, Familie und Körperschaft]; Menegatti, Mario [Sonstige Person, Familie und Körperschaft]
  • Erschienen: [S.l.]: SSRN, [2014]
  • Erschienen in: FEEM Working Paper ; No. 62.2011
  • Umfang: 1 Online-Ressource (27 p)
  • Sprache: Englisch
  • DOI: 10.2139/ssrn.1919479
  • Identifikator:
  • Entstehung:
  • Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 30, 2011 erstellt
  • Beschreibung: This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty: financial risk and environmental risk. The analysis is carried out using time series data for six advanced economies in the period 1965-2007. The results support the theoretical conclusions that both financial risk alone and the interaction between financial and environmental risks affect consumption. Moreover, we suggest a solution to some shortcomings which concern the empirical analysis performed with one-argument utility functions. Finally, we provide new estimates of indexes of relative risk aversion and relative prudence, and relative preference of environmental quality
  • Zugangsstatus: Freier Zugang