作者：Merrigan, P; Normandin, M
摘要：This paper gauges the strength of precautionary saving motives by estimating the coefficient of prudence from the UK Family Expenditure Survey data set (a time series of cross-sections). The instrumental variables estimates reveal that greater uncertainty systematically leads to larger current saving. Most of these impacts are large enough to be statistically consistent with widely accepted beliefs about attitudes towards risk, so that precautionary saving behaviour cannot be refuted. Moreover...
