Labour supply and saving under uncertainty

被引:31
作者
Floden, Martin [1 ]
机构
[1] Stockholm Sch Econ, S-11383 Stockholm, Sweden
关键词
D O I
10.1111/j.1468-0297.2006.01108.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
This article examines how variations in labour supply can be used to self-insure against wage uncertainty and the impact of such self-insurance on precautionary saving. The analytical framework is a two-period model with saving and labour-supply decisions, where preferences are consistent with balanced growth. The main findings are that (i) labour-supply flexibility raises precautionary saving when future wages are uncertain, and (ii) uncertainty about future wages raises current labour supply and reduces future labour supply.
引用
收藏
页码:721 / 737
页数:17
相关论文
共 21 条
[11]   PRODUCTION, GROWTH AND BUSINESS CYCLES .1. THE BASIC NEOCLASSICAL MODEL [J].
KING, RG ;
PLOSSER, CI ;
REBELO, ST .
JOURNAL OF MONETARY ECONOMICS, 1988, 21 (2-3) :195-232
[12]   SAVING AND UNCERTAINTY - PRECAUTIONARY DEMAND FOR SAVING [J].
LELAND, HE .
QUARTERLY JOURNAL OF ECONOMICS, 1968, 82 (03) :465-473
[13]  
LOW H, 1999, W9824 WORK PAP SER
[14]  
LOW H, 2004, IN PRESS REV EC DYN
[15]  
MARCET A, 2002, UNPUB INCOMPLETE MAR
[16]  
PARKER SC, 2005, ECON J, V115, P190
[17]   RISK-AVERSION IN THE SMALL AND IN THE LARGE [J].
PRATT, JW .
ECONOMETRICA, 1964, 32 (1-2) :122-136
[18]  
SAMUELSON PA, 1972, AM ECON REV, V62, P249
[19]   EFFECT OF UNCERTAINTY ON SAVING DECISIONS [J].
SANDMO, A .
REVIEW OF ECONOMIC STUDIES, 1970, 37 (111) :353-360
[20]   Cyclical dynamics in idiosyncratic labor market risk [J].
Storesletten, K ;
Telmer, CI ;
Yaron, A .
JOURNAL OF POLITICAL ECONOMY, 2004, 112 (03) :695-717