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aside ... households and greater conservatism by businesses in their investment and hiring(passive) set ... byprecautionary savings
changes in disposable income and cash - flow that affect spending decisions of households and firms that are liquidity or cash - flow ... firms ’ perception of income and profit uncertaintyinfluenceprecautionary savings
changes in wealth or permanent income that bring forward future reform - driven income gains in current consumption and investment ... changes in disposable income and cash - flow that affect spending decisions of households and firms that are liquidity or cash - flow constrained ; changes in households ' and firms ' perception of income and profit uncertaintyinfluenceprecautionary savings
Prudence , a characteristic of the utility functionleadsto precautionary saving
the individuals to keep their consumption path to a certain level(passive) is created byPrecautionary savings
whereas coverage for serious health risks must be maintainedto preventprecautionary savings
the SOE reform(passive) caused byprecautionary savings
Economic slowdownsleadto precautionary saving
domestic demand ... helpedtriggerprecautionary savings
the uncertainty created by the crisis(passive) caused byprecautionary savings
There is a negative relationship between public social expenditures and savings rates ( -0.7pp ) : If the state can not guarantee a certain level of welfare , agents are encouragedto createprecautionary savings
There is a negative relationship between public social expenditures and savings rates ( -0.7 % ) : If the state can not guarantee a certain level of welfare , agents are encouragedto createprecautionary savings
job uncertainty from saving caused by a pessimistic outlook(passive) caused byprecautionary saving
the reduced [ needto set aside] precautionary savings
Uncertainty about the seriousness of the future situation plus the knowledge that income after retirement will in any event be lessleadsto precautionary saving
which is in turncausingprecautionary saving
the lack of financial developmentmay resultin precautionary saving
the effects of macro shocks impacting on a subset of the populationleadsto precautionary saving
food insecurityto preventfood insecurity
in unplanned bequestsresultin unplanned bequests
moneyis settingmoney
to the fall in the interest ratecontributesto the fall in the interest rate
floors and ceilings for spending growthsetsfloors and ceilings for spending growth
to about one - third of the wealth accumulations for SOE workers between 1995 and 2002contributeto about one - third of the wealth accumulations for SOE workers between 1995 and 2002
to less dissaving that the standard model would predictwould leadto less dissaving that the standard model would predict
to lower human capital accumulationcan leadto lower human capital accumulation
to a hump - shaped lifecycle consumption profilewill leadto a hump - shaped lifecycle consumption profile
major family shocks ( e.g. , death of a spouse , divorcepreventingmajor family shocks ( e.g. , death of a spouse , divorce
asideto setaside
from such a consolidationresultfrom such a consolidation
by making it unattractive due to low interest ratescan be preventedby making it unattractive due to low interest rates
a significantly hump - shaped life cycle profile of mean consumptioncan createa significantly hump - shaped life cycle profile of mean consumption
to higher capital accumulation rates [ 30leadingto higher capital accumulation rates [ 30
by making Precautionary saving unattractive due to low interest ratescan be preventedby making Precautionary saving unattractive due to low interest rates
in weaker consumer spendingresultedin weaker consumer spending
the hump , for other factors , such as leisure and consumption substitution ( Heckman ( 1974causesthe hump , for other factors , such as leisure and consumption substitution ( Heckman ( 1974
from the greater perceived riskiness of future incomeresultingfrom the greater perceived riskiness of future income
to over - accumulation of capitalcan leadto over - accumulation of capital
to increased liquid asset holdingleadingto increased liquid asset holding
foreign assets to diverge to infinity with the standard assumption of a constant rate of time preference equal to the 6leadsforeign assets to diverge to infinity with the standard assumption of a constant rate of time preference equal to the 6
to a delay in investment policy compared to the benchmark of full external financingmay leadto a delay in investment policy compared to the benchmark of full external financing
to underutilization of capital and underinvestment ... and failed , reduced or delayed recovery from disasterleadsto underutilization of capital and underinvestment ... and failed , reduced or delayed recovery from disaster
the downturn(passive) caused bythe downturn