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On the Evolution of the US Consumer Wealth Distribution

Hintermaier, Thomas; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2010

We use all available waves of the Survey of Consumer Finances to document the evolution of the wealth distribution in …

Persistent link: https://www.econbiz.de/10008468610

Hatton, Timothy J.; Williamson, Jeffrey G - C.E.P.R. Discussion Papers - 2009

This paper documents a stylized fact not well appreciated in the literature. The Third World has been undergoing an emigration life cycle since the 1960s, and, except for Africa, emigration rates have been level or even declining since a peak in the late 1980s the early 1990s. The current...

Persistent link: https://www.econbiz.de/10004972165

Human Capital and Optimal Positive Taxation of Capital Income

Bovenberg, A Lans; Jacobs, Bas - C.E.P.R. Discussion Papers - 2005

investment, financial savings, and labour supply with heterogenous individuals. A dual income tax with a positive marginal tax … than that on labour income if savings are elastic compared to investment in human capital; substitution between inputs in …

Persistent link: https://www.econbiz.de/10005123828

Innovative Clusters and the Industry Life Cycle

Audretsch, David B; Feldman, Maryann P - C.E.P.R. Discussion Papers - 1995

The purpose of this paper is to link the propensity for innovative activity to cluster spatially to the stage of the industry life cycle. The theory of knowledge spillovers, based on the knowledge production function for innovative activity, suggests that geographic proximity matters most in...

Persistent link: https://www.econbiz.de/10005497876

Consumption Over the Life-Cycle

Gourinchas, Pierre-Olivier; Parker, Jonathan A - C.E.P.R. Discussion Papers - 2000

This paper employs cohort technique and Consumer Expenditure Survey data to construct average age-profiles of consumption and income over the working lives of typical households across different education and occupation groups. Using these profiles, we estimate a structural model of optimal...

Persistent link: https://www.econbiz.de/10005504201

Winners and Losers in Housing Markets

Kiyotaki, Nobuhiro; Michaelides, Alexander; Nikolov, Kalin - C.E.P.R. Discussion Papers - 2010

This paper is a quantitatively-oriented theoretical study into the interaction between housing prices, aggregate production, and household behavior over a lifetime. We develop a life-cycle model of a production economy in which land and capital are used to build residential and commercial real...

Persistent link: https://www.econbiz.de/10011083522

Asset Market Participation and Portfolio Choice over the Life Cycle

Fagereng, Andreas; Gottlieb, Charles; Guiso, Luigi - C.E.P.R. Discussion Papers - 2013

We study the life cycle of portfolio allocation following for 15 years a large random sample of Norwegian households using error-free data on all components of households’ investments drawn from the Tax Registry. Both, participation in the stock market and the portfolio share in stocks, have...

Persistent link: https://www.econbiz.de/10011084665

Cross Sectional Facts for Macroeconomists

Krueger, Dirk; Perri, Fabrizio; Pistaferri, Luigi; … - C.E.P.R. Discussion Papers - 2009

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After …

Persistent link: https://www.econbiz.de/10008509469

On the Long Run Evolution of Inheritance - France 1820-2050*

Piketty, Thomas - C.E.P.R. Discussion Papers - 2010

1950, and back up to about 15% by 2010. A simple theoretical model of wealth accumulation, growth and inheritance can fully … wealth accumulation well above 100%. Our findings illustrate the fact that when the growth rate g is small, and when the rate … of return to private wealth r is permanently and substantially larger than the growth rate (say, r=4%-5% vs. g=1 …

Persistent link: https://www.econbiz.de/10008468507

Sequencing regionalism: Theory, European practice, and lessons for Asia

Baldwin, Richard - C.E.P.R. Discussion Papers - 2010

Feedback mechanisms are the key to sequencing when it comes to regional integration. Feedback mechanisms can mean that today’s policy or institution alters the political economy landscape in a way that makes it politically optimal for future governments to take further steps towards...

Persistent link: https://www.econbiz.de/10008468652