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Replication data for: Firm-Related Risk and Precautionary Saving Response

Version
V0
Resource Type
Dataset
Creator
  • Fagereng, Andreas
  • Guiso, Luigi
  • Pistaferri, Luigi
Publication Date
2017-05-01
Description
  • Abstract

    We propose a new approach to identify the strength of the precautionary motive and the extent of self-insurance in response to earnings risk based on Euler equation estimates. To address endogeneity problems, we use Norwegian administrative data and instrument consumption and earnings volatility with the variance of firm-specific shocks. The instrument is valid because firms pass some of their productivity shocks onto wages; moreover, for most workers, firm shocks are hard to avoid. Our estimates suggest a coefficient of relative prudence of 2, in a very plausible range.
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Relations
  • Is supplement to
    DOI: 10.1257/aer.p20171093 (Text)
Publications
  • Fagereng, Andreas, Luigi Guiso, and Luigi Pistaferri. “Firm-Related Risk and Precautionary Saving Response.” American Economic Review 107, no. 5 (May 2017): 393–97. https://doi.org/10.1257/aer.p20171093.
    • ID: 10.1257/aer.p20171093 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Fagereng, Andreas; Guiso, Luigi; Pistaferri, Luigi (2017): Replication data for: Firm-Related Risk and Precautionary Saving Response. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113522