Precautionary Saving, Insurance, and the Origins of Workers' Compensation

Kantor, Shawn; Fishback, Price V.

doi:10.1086/262029

Cited by 71 publications

(50 citation statements)

References 11 publications

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“…As noted above, Kantor and Fishback (1996) find that the introduction of workers' compensation insurance lowered the savings of working households by 25 percent, and Engen and Gruber (1995) estimate that increasing the generosity of unemployment insurance by one-half would lower savings by 14 percent; both are similar to our 16.3 percent estimated effect.…”

Section: Basic Sipp Resultssupporting

confidence: 80%

“…Kantor and Fishback (1996) explore the impact of the introduction of insurance against workplace injuries under the workers' compensation program, and find that there was a 25 percent reduction in the savings of working households. Engen and Gruber (1995) estimate the relationship between the generosity of the unemployment insurance program and wealth holdings, and find that increasing the generosity of unemployment insurance by one-half would lowers savings by 14 percent.…”

Section: Related Empirical Workmentioning

confidence: 99%

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Public Health Insurance and Private Savings

Gruber

Yelowitz

1999

Journal of Political Economy

204

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2We assess the effect of a means and asset-tested social insurance program, Medicaid, on the savings behavior of households. We do so using both data on asset holdings and on consumption, matched to information on the eligibility of families for health insurance coverage under this program.Exogenous variation in Medicaid eligibility is provided by the dramatic expansion of this program over the 1984 to 1993 period. We document that Medicaid eligibility has a sizeable and significant negative effect on wealth holdings, and we confirm this finding by showing a strong positive association between Medicaid eligibility and consumption expenditures. We also exploit the fact that asset testing was phased out by the Medicaid program over this period to document that these Medicaid effects are much stronger in the presence of an asset test.

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Section: Basic Sipp Resultssupporting

confidence: 80%

Section: Related Empirical Workmentioning

confidence: 99%

Public Health Insurance and Private Savings

Gruber

Yelowitz

1999

Journal of Political Economy

204

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“…The estimated coefficients on the squared consumption growth for the entire sample Our empirical results are consistent with studies that have found that coverage by social programs, such as disability insurance (Kantor and Fishback, 1996), unemployment insurance (Engen and Gruber, 2001), and Medicaid (Gruber and Yelowitz, 1999) in the US, and health insurance (Chou et al, 2003) in Taipei,China, are negatively associated with saving.…”

Section: B1 Estimation Results: Overall Vs 2000ssupporting

confidence: 86%

Have Filipino Households Become Less Prudent?

Terada-Hagiwara¹

2012

Journal of Development Studies

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Throughout the 2000s, the average household saving rate in the Philippines declined sharply. This paper explains why households' consumption growth has been higher than income growth during this period. Tracing cohorts shows that saving declined across all demographic groups. A test that provides the strength of the precautionary saving motive yields a plausible explanation that households have become financially constrained and less prudent in the recent years. This paper argues that these patterns are best explained by the extended coverage of social security system particularly to informal sector employees during the 1990s in the Philippines. Asian Development Bank; 6 ADB Avenue, Mandaluyong City 1550, Philippines; Tel (632) 632 5587, Fax (632) 636 2342; ahagiwara@adb.org.

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“…Starr-McCluer (1996) examined the relationship between insurance coverage and wealth, and found a positive effect from health insurance coverage on wealth holdings. Kantor and Fishback (1996) examined the impact of the introduction of insurance against workplace accidents, and found that the existence of workers' compensation led to a reduction in the savings of working households. Engen and Gruber (2001) examined the effects of the unemployment insurance programme on wealth holdings, and found that increasing the generosity of unemployment insurance would lower savings.…”

Section: Introductionmentioning

confidence: 99%

Health insurance and savings over the life cycle—a semiparametric smooth coefficient estimation

Liu¹,

Huang²

2004

J of Applied Econometrics

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SUMMARYIndividuals save for future uncertain health care expenses. This is less efficient than pooling health risk through insurance. The provision of comprehensive health insurance may raise welfare by providing the missing market to smooth out consumption through the life cycle. We employ a semiparametric smooth coefficient model to examine the effects of the introduction of the National Health Insurance in Taiwan in 1995 on savings and consumption over the life cycle. The idea is to estimate the coefficients of health insurance which vary with age. Our results suggest that younger households are more sensitive to the risk reductions, and that they demonstrate a greater response in the reduction of their precautionary saving.

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Precautionary Saving, Insurance, and the Origins of Workers' Compensation

Cited by 71 publications

References 11 publications

Public Health Insurance and Private Savings

Public Health Insurance and Private Savings

Have Filipino Households Become Less Prudent?

Health insurance and savings over the life cycle—a semiparametric smooth coefficient estimation

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