TY  - GEN
T1  - How important is precautionary labor supply?
A1  - Jessen,Robin
A1  - Rostam-Afschar,Davud
A1  - Schmitz,Sebastian
Y1  - 2016/07/06
N2  - We quantify the importance of precautionary labor supply using data from the German Socio-Economic Panel (SOEP) for 2001-2012. We estimate dynamic labor supply equations augmented with a measure of wage risk. Our results show that married men choose about 2.5% of their hours of work or one week per year on average to shield against unpredictable wage shocks. This implies that about 26% of precautionary savings are due to precautionary labor supply. If self-employed faced the same wage risk as the median civil servant, their hours of work would reduce by 4%.
KW  - Lohn
KW  - Arbeit
KW  - Arbeitsmarkt
KW  - Sparverhalten
KW  - Deutschland
CY  - Hohenheim
PB  - Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim
AD  - Garbenstr. 15, 70593 Stuttgart
UR  - http://opus.uni-hohenheim.de/volltexte/2016/1234
ER  -