Saving and the Fear of Nuclear War
Bibliographic Data
| ID | 6283566 |
|---|---|
| Authors | Joel Slemrod (University of Minnesota, corresponding author) |
| Year | 1986 |
| Volume | 30 |
| Issue | 3 |
| Pages | 403-419 |
| Publication date | 1986-09-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Conflict Resolution (JOURNAL) |
| Journal identifiers | ISSN: 0022-0027 • E-ISSN: 1552-8766 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/0022002786030003001 |
| OpenAlex | W2158644702 |
| Language | EN |
| Citations received | 13 |
| References cited | 13 |
The hypothesis of this article is that the performance and, in particular, the rate of saving in the postwar U.S. economy has been influenced by the changes in the public perception of the threat of a catastrophic nuclear war. An increased threat shortens the expected horizon of individuals, and thus reduces their willingness to postpone present consumption in favor of investment. The hypothesis is tested by expanding a standard savings function estimation technique to include a measure of the perceived threat of nuclear war. Several alternative measures of the perceived threat are considered, based either on the setting of the “doomsday” clock published monthly in Bulletin of the Atomic Scientists, which reflects the editors' judgement about the likelihood of a nuclear conflict, or on an index of the extent of press coverage of nuclear war issues. The tests all support a large and statistically significant impact of the threat of nuclear war on the rate of private saving. These tests are not viewed as conclusive evidence in favor of the economic impact of the perceived threat of nuclear war. Nevertheless, this research suggests that economists may have been overlooking an important source of influence in the postwar, postnuclear U.S. economy. Conceivably, it could affect not only the private savings rate but also other economic variables such as the level of investment in human capital, the level of asset prices, the term structure of interest rates, and the rate of inflation
Consumption (sociology · Economics · Inflation (cosmology · Interest rate · Investment (military · Monetary economics · Political science · Politics · Public opinion · Sociology · Global Energy and Sustainability Research · Insurance, Mortality, Demography, Risk Management · Law · Market Dynamics and Volatility
Rare Disasters and Asset Markets in the Twentieth Century
Nuclear war as a predictable surprise
Household Saving in the United States
Psychological Aspects of the Nuclear Arms Threat
The effect of predatory rent-seeking on household saving and portfolio choices
Did Americans' Expectations of Nuclear War Reduce Their Savings
The human family and its children under the nuclear addiction
The Changing Cultural Discount Rate
An Exploratory Study of the Factors Associated with Parental Saving for Postsecondary Education
End-Times Theology, the Shadow of the Future, and Public Resistance to Addressing Global Climate Change
The Construction of Reality in the Nuclear Age
A Survey of Psychologists' Nuclear War Attitudes
Sex Differences in Attitudes toward Nuclear War
| Unique citing works | 13 |
|---|---|
| Citations per year | 0,34 |
| Citation span | 1988 - 2022 (35) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 13 |