| 000 | 02353cam a22003377 4500 | ||
|---|---|---|---|
| 001 | w5252 | ||
| 003 | NBER | ||
| 005 | 20211020114229.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s1995 mau fo 000 0 eng d | ||
| 100 | 1 |
_aEngen, Eric M. _99914 |
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| 245 | 1 | 0 |
_aUnemployment Insurance and Precautionary Saving / _cEric M. Engen, Jonathan Gruber. |
| 260 |
_aCambridge, Mass. _bNational Bureau of Economic Research _c1995. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w5252 |
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| 500 | _aSeptember 1995. | ||
| 520 | 3 | _aWe consider both theoretically and empirically the effect of unemployment insurance (UI) on precautionary savings behavior. Simulations of a stochastic life cycle model suggest that increasing the generosity of UI will substantially lower the asset holdings of the median worker, and that this effect will both rise with unemployment risk and fall with worker age. We test these implications by matching data on potential UI replacement rates to asset holdings in the Survey of Income and Program Participation (SIPP). Our empirical results are quite consistent with the predictions of the model. We find that raising the replacement rate for UI by 10 percentage points lowers financial asset holdings by 1.4 to 5.6%, so that UI crowds out up to one-half of private savings for the typical unemployment spell. We also find that this effect is stronger for those facing higher unemployment risk and weaker for older workers. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aJ65 - Unemployment Insurance • Severance Pay • Plant Closings _2Journal of Economic Literature class. |
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| 690 | 7 |
_aH53 - Government Expenditures and Welfare Programs _2Journal of Economic Literature class. |
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| 700 | 1 |
_aGruber, Jonathan. _911940 |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w5252. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w5252 |
| 856 |
_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w5252 |
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_2ddc _cW-PAPER |
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_c343100 _d301662 |
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