TY  - RPRT
        AU  - Clark, Andrew E.
AU  - D'Ambrosio, Conchita
AU  - Lepinteur, Anthony
        TI  - Saving and Job-Loss Risk:  Evidence from Italy
        PY  - 2026/Oct/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 19043
        UR  - https://www.iza.org/publications/dp19043
        AB  - 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.
        KW  - job insecurity
KW  - precautionary saving
KW  - risk aversion
KW  - Italy
        ER  -