Browsing SVA - Work Research Institute (AFI) by Subject "Incomes"
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Testing the empirical relevance of the "saving for a rainy day" hypothesis in US metro areas
(Oxford Bulletin of Economics and Statistics;Volume 81, Issue 6, December 2019, Journal article; Peer reviewed, 2019)The joint implication of the consumption Euler equation and cointegration between income and consumption is that savings predict future income declines, the ‘saving for a rainy day’ hypothesis. The empirical relevance of ...