@TechReport{iza:izadps:dp19043,
            	author={Clark, Andrew E. and D'Ambrosio, Conchita and Lepinteur, Anthony},
            	title={Saving and Job-Loss Risk:  Evidence from Italy},
            	year={2026},
	month={Oct},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={19043},
            	url={https://www.iza.org/publications/dp19043},
	abstract={Job insecurity produces uncertainty for workers, and likely affects their subsequent behaviour. We here ask whether the risk of job loss affects savings decisions. We analyse individual-level data from the Italian Survey on Household Income and Wealth, and consider the 2012 Fornero reform that reduced firing costs in large firms in Italy as a natural experiment. Greater job insecurity increases savings. In line with standard models of precautionary savings, this savings reaction to future job-loss risk is larger for workers who are more risk-averse.},
	keywords={job insecurity;precautionary saving;risk aversion;Italy},
            }