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Accumulation de richesse aux fins de précaution: résultats dérivés d'une analyse de micro données canadiennes .
Author(s) -
Alan Sule
Publication year - 2006
Publication title -
canadian journal of economics/revue canadienne d'économique
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.773
H-Index - 69
eISSN - 1540-5982
pISSN - 0008-4085
DOI - 10.1111/j.1540-5982.2006.00383.x
Subject(s) - microdata (statistics) , economics , market liquidity , precautionary savings , stock (firearms) , buffer stock scheme , empirical evidence , household income , demographic economics , monetary economics , microeconomics , population , demography , archaeology , sociology , census , history , engineering , philosophy , epistemology , mechanical engineering
This paper estimates the effect of labour income uncertainty on wealth accumulation using two data sources. Wealth information is obtained from the master files of the new Canadian Survey of Financial Security 1999 (SFS). Labour income risk proxies are constucted by industry using the Canadian Survey of Labour and Income Dynamics (SLID) between 1996 and 2001. The empirical results suggest the presence of a strong precautionary saving motive among Canadian households for broad definitions of wealth. Furthermore, consistent with the buffer‐stock‐saving model, the level of precautionary funds significantly increases when households face liquidity constraints.