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Firm-Related Risk and Precautionary Saving Response

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NBER2017-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w23182
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资源简介:
We propose a new approach to identify the strength of the precautionary motive and the extent of self-insurance in response to earnings risk based on Euler equation estimates. To address endogeneity problems, we use Norwegian administrative data and instrument consumption and earnings volatility
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2017-02-01
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