| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Consumption and Precautionary Saving: An Empirical Analysis under Both Financial and Environmental Risks
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| Autores: |
Baiardi, Donatella
Manera, Matteo
Menegatti, Mario
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| Data: |
2011-09-26
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| Ano: |
2011
|
| Palavras-chave: |
Consumption
Precautionary Saving
Financial Risk
Environmental Risk
Prudence
Relative Risk Aversion
Uncertainty
Environmental Economics and Policy
D81
E21
Q50
|
| Resumo: |
This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty: financial risk and environmental risk. The analysis is carried out using time series data for six advanced economies in the period 1965-2007. The results support the theoretical conclusions that both financial risk alone and the interaction between financial and environmental risks affect consumption. Moreover, we suggest a solution to some shortcomings which concern the empirical analysis performed with one-argument utility functions. Finally, we provide new estimates of indexes of relative risk aversion and relative prudence, and relative preference of environmental quality.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/115845
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| Relação: |
Fondazione Eni Enrico Mattei (FEEM)>Climate Change and Sustainable Development
CCSD
62.2011
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| Formato: |
27
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