Standard macroeconomic models show that uncertainty plays a significant role in
consumption and saving decisions under rather mild conditions, namely the convexity of the …

We investigate household financial fragility in Italy, providing three main contributions. First,
we propose a novel characterization of financial fragility that is not necessarily linked to …

Standard macroeconomic models show that uncertainty plays a significant role in
consumption and saving decisions under rather mild conditions, namely the convexity of the …

The aim of this paper is to empirically study the effect of uncertainty on private consumption
using a sample of Spanish households, and therefore, to test the existence of a …

The impact of house prices on consumption is an important concern for academics and
policy makers. Several studies have documented that house price changes have an impact …

The aim of this paper is to study empirically the existence of precautionary saving in Spain at
the end of the Great Recession using the micro data provided by the Spanish Survey of …

Job insecurity is multifaceted and, unsurprisingly, it has many definitions. For Heaney et
al.(1994), job insecurity can be defined as the “perception of a potential threat to continuity in …

We consider a simple, two period, consumption-savings model with future income
uncertainty that examines the interplay of savings, precautionary savings, loss aversion, and …

This paper empirically examines the behavioral precautionary saving hypothesis that
uncertainty about future income triggers an increase in saving because of loss aversion …

The COVID-19 pandemic has underscored the importance of how people react behaviorally
to external threats. Precautionary behavioral responses to COVID-19 become apparent. In …