Precautionary saving motives: an assessment from UK time series of cross-sections
Article Abstract:
The coefficient of prudence from the yearly UK Family Expenditure Survey data set is estimated to reexamine the strength of precautionary saving motives. The instrumental variables estimates demonstrate that higher uncertainty systematically results in greater current saving. These effects are significant enough to be statistically consistent with recognized beliefs about attitudes towards risk, such that precautionary saving behavior are irrefutable. In addition, the households less likely to be challenged by liquidity problems or to share risks are found to be more sensitive to uncertainty.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1996
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SNP: a program for non-parametric time series analysis
Article Abstract:
SNP is a public-domain program for nonparametric time series analysis designed by A. Ronald Gallant and George Tauchen. It measures the conditional density of a stationary multivariate time series through the use of a polynomial series expansion and a model selection method to identify the degree of the expansion. It also allows prediction, plotting and simulation analysis.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1996
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Dynamic Time Series Models with Growth Effects Constrained to Zero
Article Abstract:
The dynamic properties of estimated equanons are analyzed. A generating coefficient implicit in lag distribution is obtained. A sensible testing procedure for the hypothesis is proposed. Care should be used in applying constraints.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1984
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