TY - JOUR
T1 - Precautionary saving and endogenous labor supply with and without intertemporal expected utility
AU - Nocetti, Diego
AU - Smith, William T.
PY - 2011/10
Y1 - 2011/10
N2 - 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".
AB - 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".
KW - Intertemporal substitution
KW - Labor supply
KW - Multivariate risk aversion
KW - Precautionary saving
KW - Wage uncertainty
UR - https://www.scopus.com/pages/publications/80053331710
U2 - 10.1111/j.1538-4616.2011.00432.x
DO - 10.1111/j.1538-4616.2011.00432.x
M3 - Article
AN - SCOPUS:80053331710
SN - 0022-2879
VL - 43
SP - 1475
EP - 1504
JO - Journal of Money, Credit and Banking
JF - Journal of Money, Credit and Banking
IS - 7
ER -