Please use this identifier to cite or link to this item: https://hdl.handle.net/10620/18945
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dc.contributor.authorChurchill, Sefa Awaworyi-
dc.contributor.authorSmyth, Russell-
dc.contributor.authorTrinh, Trong-Anh-
dc.contributor.authorYew, Siew Ling-
dc.date.accessioned2022-09-12T23:02:42Z-
dc.date.available2022-09-12T23:02:42Z-
dc.date.issued2022-03-
dc.identifier.urihttps://hdl.handle.net/10620/18945-
dc.description.abstractWe present the first study to examine the impact of temperature shocks on household savings behaviour. We first develop a theoretical model to examine the relationship between average temperature and savings via risk and time preferences. The model predicts an ambiguous effect of both risk and time preferences as channels. We test the theoretical predictions using longitudinal data from the Household, Income and Labour Dynamics in Australia Survey and satellite re-analysis temperature data. We find that a standard deviation increase in average temperature is associated with a 4.3% increase in net worth and a 12.8% increase in savings. We examine risk preferences and time preferences as channels and find that time preferences mediate the relationship between temperature shocks and savings.en
dc.titleTemperature Shocks and Household Savingsen
dc.typeReports and technical papersen
dc.identifier.urlhttps://www.researchgate.net/profile/Sefa-Awaworyi-Churchill/publication/359146153_Temperature_Shocks_and_Household_Savings/links/622a6009a39db062db90be97/Temperature-Shocks-and-Household-Savings.pdfen
local.contributor.institutionSchool of Economics, Finance & Marketing, RMIT Universityen
local.contributor.institutionDepartment of Economics, Monash Universityen
local.contributor.institutionMelbourne Institute of Applied Economic & Social Research, University of Melbourneen
local.contributor.institutionDepartment of Economics, Monash Universityen
dc.identifier.surveyHILDAen
dc.description.institutionMelbourne Institute of Applied Economic and Social Researchen
dc.description.keywordstemperatureen
dc.description.keywordsweatheren
dc.description.keywordspreferencesen
dc.description.keywordsSavingsen
dc.description.keywordsnet worthen
dc.description.keywordswealth accumulationen
local.identifier.emailsefa.churchill@rmit.edu.auen
local.identifier.emailrussell.smyth@monash.eduen
local.identifier.emailtronganh.trinh@unimelb.edu.auen
local.identifier.emailsiew.ling.yew@monash.eduen
dc.subject.dssHousing, communities and neighbourhoodsen
dc.subject.dssIncome, wealth and financesen
dc.relation.surveyHILDAen
item.openairetypeReports and technical papers-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
item.fulltextNo Fulltext-
item.grantfulltextnone-
Appears in Collections:Technical Papers
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