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This article examines the uncertainty of household income in European Union countries and in one accession country - Poland. Using the data from the Household Budget Surveys for a panel of twelve European Union countries in years 1995-98, and the Household Budget Survey for the Polish households' panel for 1997-2000, we estimate the uncertainty of household income by decomposing it into a variance of permanent income and a variance of transitory income. For particular countries we assess these two measures of income uncertainty using different criteria: age, gender, main economic activity, education and professional status of the household head. (fragment of text)
Rocznik
Tom
Numer
Strony
2--15
Opis fizyczny
Twórcy
autor
- University of Warsaw, Poland
autor
- University of Warsaw, Poland
autor
- University of Warsaw, Poland
Bibliografia
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- Carroll, C. D. and Samwick, A. A. (1997) "The Nature of Precautionary Wealth". Journal of Monetary Economics 40: 41-71
- CHER (Consortium of Household Panels for European Socio-economic Research), Luxembourg, Working Papers Nos 1-15, 2003, http://www.ceps.lu/CherPaco/CherPaco.htm
- Deaton, A. (1991) "Saving and Liquidity Constraint". Econometńca LIX: 1221-48
- Flavin, M. A. (1981) "The Adjustment of Consumption to Changing Expectations about Future Income". Journal of Political Economy 81 (5): 974-1009
- Friedman, M. (1957) A Theory of the Consumption Function. Princeton: Princeton University Press
- Hall, R. E. (1978) "Stochastic Implications of the Life-cycle Hypothesis: Theory and Evidence". Journal of Political Economy 86 (6): 971-87
- Hall, R. E. and Mishkin, F. S. (1982) "The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households". Econometńca 50 (2): 461-81
- Household Budget Surveys, Poland (1997-2000). Warsaw: Central Statistical Office
- Liberda, B. (2000) Oszczędzanie w gospodarce polskiej. Teorìe i fakty [Saving in the Polish economy. Theories and Facts.]. Warsaw: PTE - Bellona
- Liberda, B., Górecki B. and Pęczkowski M. (2002) "Saving from Permanent and Transitory Income: the Case of Polish Households". Paper to the CHER (Consortium of Household Panels for European Socio-economic Research) conference, Majorca, Spain, September 2002, and CHER Working Paper No. 15, 2003
- Modigliani, F. and Brumberg, R. (1954) "Utility Analysis and the Consumption Function: An Interpretation of Cross-Section Data" in K. Kurihara (ed.) Post-Keynesian Economics. New Brunswick: Rutgers University Press
- Skinner, J. (1988) "Risky Income, Life Cycle Consumption and Precautionary Savings". Journal of Monetary Economics 22: 237-55
Typ dokumentu
Bibliografia
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Identyfikator YADDA
bwmeta1.element.ekon-element-000171267637