Discussion Papers no. 672

Saving and portfolio allocation before and after job loss

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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.

Om publikasjonen

Tittel

Saving and portfolio allocation before and after job loss

Ansvarlige

Christoph Basten, Andreas Fagereng, Kjetil Telle

Serie og -nummer

Discussion Papers no. 672

Utgiver

Statistics Norway

Emne

Discussion Papers

ISSN

1892-753X

Antall sider

50

Målform

Engelsk

Om Discussion Papers

Discussion papers comprise research papers intended for international journals and books. A preprint of a Discussion Paper may be longer and more elaborate than a standard journal article as it may include intermediate calculations, background material etc.

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