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Journal article

Policy uncertainty and household savings

Abstract:

Using German microdata and a quasi-natural experiment, we provide evidence on how households respond to an increase in uncertainty. We find that household saving increases significantly following the increase in political uncertainty observed in the run-up to the 1998 German general election. We also find evidence of a labor supply response by workers who can use the margin offered by part-time employment. Our results are suggestive of the economic effects of “wars of attrition”: when politic...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1162/REST_a_00158

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Oxford college:
St Hugh's College
Role:
Author
Publisher:
Massachusetts Institute of Technology Press
Journal:
Review of Economics and Statistics More from this journal
Volume:
94
Issue:
2
Pages:
517-531
Publication date:
2012-04-25
Acceptance date:
2010-09-30
DOI:
EISSN:
1530-9142
ISSN:
0034-6535
Keywords:
Pubs id:
pubs:944058
UUID:
uuid:9191ee8f-7467-436a-b6bc-2582f0e898e4
Local pid:
pubs:944058
Source identifiers:
944058
Deposit date:
2018-11-19

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