Arbeitspapier
Saving and portfolio allocation before and after job loss
Using administrative panel data from Norway, we investigate the development of household labor income, financial wealth and asset holdings over a nine-year period surrounding job loss. Consistent with a simple theoretical model, the data show precautionary saving and a shift toward safer assets in the years leading up to unemployment, and depletion of savings during unemployment. This suggests that at least some households can foresee and prepare for upcoming unemployment, which indicates that private savings can complement publicly provided unemployment insurance.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Papers ; No. 672
- Klassifikation
-
Wirtschaft
Consumer Economics: Empirical Analysis
Macroeconomics: Consumption; Saving; Wealth
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Portfolio Choice; Investment Decisions
Unemployment Insurance; Severance Pay; Plant Closings
- Thema
-
unemployment
precautionary saving
consumption smoothing
household portfolios
portfolio allocation
optimal unemployment insurance
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Basten, Christoph
Fagereng, Andreas
Telle, Kjetil
- Ereignis
-
Veröffentlichung
- (wer)
-
Statistics Norway, Research Department
- (wo)
-
Oslo
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Basten, Christoph
- Fagereng, Andreas
- Telle, Kjetil
- Statistics Norway, Research Department
Entstanden
- 2012
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