Similar Search Results

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 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

Vanishing Third World Emigrants?

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

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

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

Growing like China

Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009

credit markets. Due to the financial imperfections, high-productivity firms - which are run by entrepreneurs - must be …

Persistent link: https://www.econbiz.de/10005123794

Entrepreneurial Innovations, Competition and Competition Policy

Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2008

We construct a model where an entrepreneur could either innovate for entry or for sale. It is shown that increased product competition tends to increase the relative profitability of innovation for sale relative to entry. Increased competition reduces entrants' and acquirers' profits in a...

Persistent link: https://www.econbiz.de/10005497863

Banking (Conservatively) With Optimists

Manove, Michael; Padilla, Atilano Jorge - C.E.P.R. Discussion Papers - 1998

In the course of ordinary business, commercial banks frequently encounter entrepreneurs seeking loans for the purpose … of financing new or continuing projects. These entrepreneurs are frequently unrealistic, their perception having been … relationship between banks and possible optimistic entrepreneurs. We examine this capital market from the stand-point of economic …

Persistent link: https://www.econbiz.de/10005791403

1
2
3
4
5
6
7
8
Next
Last