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Title: Interaction Between Labor Market Outcomes and Asset Accumulation
Resulting in 1 citation.
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Samwick, Andrew A. |
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Interaction Between Labor Market Outcomes and Asset Accumulation Working Paper, Dartmouth College and NBER, October 1998 Cohort(s): Mature Women, Older Men Publisher: National Bureau of Economic Research (NBER) Keyword(s): Assets; Income; Income Dynamics/Shocks; Job Turnover; Labor Market Outcomes; Savings Rational expectations model of the permanent income hypothesis predict that assets are used to buffer consumption against shocks to income. This prediction is robust to the formal modeling of precautionary motives for saving and liquidity constraints. This paper tests this prediction using the savings response to job transitions in the National Longitudinal Surveys Old Cohort databases. The main empirical finding is that households that experience a job transition do not save systematically less than those who remain with the same |
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Bibliography Citation
Samwick, Andrew A. "Interaction Between Labor Market Outcomes and Asset Accumulation." Working Paper, Dartmouth College and NBER, October 1998. |