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Policy Uncertainty and Precautionary Savings in Relation to Pensions
National Bureau of Economic Research [NBER] 
Apr. 9, 2008 Excerpt: We use the quasi-experiment of the adoption and subsequent revocation of [German] pension reform to study how households reacted to the increase in uncertainty about the future path of income that such an event produced. Our estimates are obtained from a diff-in-diff estimator: this helps us overcome the identification problem that often affects measures of precautionary saving. |
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