%0 Report
        %A Clark, Andrew E.
%A D'Ambrosio, Conchita
%A Lepinteur, Anthony
        %T Saving and Job-Loss Risk:  Evidence from Italy
        %D 2026
        %8 2026 Oct
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 19043
        %U https://www.iza.org/publications/dp19043
        %X 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.
        %K job insecurity
%K precautionary saving
%K risk aversion
%K Italy