Showing 1 - 10 of 64
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
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
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
We use all available waves of the Survey of Consumer Finances to document the evolution of the wealth distribution in the US since the 1980s. We then rely on the shape of this distribution to estimate a life-cycle incomplete markets model. We find that considering a wide range of net-worth...
Persistent link: https://www.econbiz.de/10008468610
This paper analyzes optimal linear taxes on capital and labour incomes in a life-cycle model of human capital investment, financial savings, and labour supply with heterogenous individuals. A dual income tax with a positive marginal tax rate on not only labour income but also capital income is...
Persistent link: https://www.econbiz.de/10005123828
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
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
China was the largest economy in the world before the end of the 19th century; then became one of the poorest countries … in the world in a few decades. Now China is returning to its historical past. To understand China’s development, and to … understand where and how far China will move forward, this paper examines how its institution functioning. …
Persistent link: https://www.econbiz.de/10011145429
Import competition from China is pervasive in the sense that for many good categories, the competitive environment that …
Persistent link: https://www.econbiz.de/10011145441
In this paper we provide an overview of China’s human capital strategy and educational achievements over the last two … decades. While every one acknowledges China as an economic superpower, very few are aware of or realize China’s notable … Chinese modern higher education system China has made tremendous strides in education both domestically and internationally …
Persistent link: https://www.econbiz.de/10009002385