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The Consumption and Wealth Effects of an Unanticipated Change in Lifetime Resources
Jappelli, Tullio; Padula, Mario - Centro Studi di Economia e Finanza (CSEF) - 2014
lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …
Persistent link: https://www.econbiz.de/10011165979
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Survey Instruments and the Reports of Consumption Expenditures: Evidence from the Consumer Expenditure Surveys
Battistin, Erich; Padula, Mario - Centro Studi di Economia e Finanza (CSEF) - 2010
This paper provides evidence on the relevance of the collection mode for the analysis of consumption data for the … figures from consumption reports obtained with diaries markedly differ from those obtained using recall data. We then exploit … features of the distribution of consumption (not just its mean). Finally, we show how to purge the expenditure measurements …
Persistent link: https://www.econbiz.de/10008685646
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Tax Incentives and the Demand for Life Insurance: Evidence from Italy
Jappelli, Tullio; Pistaferri, Luigi - Centro Studi di Economia e Finanza (CSEF) - 2001
The theoretical literature suggests that taxation can have a large impact on household portfolio selection and allocation. In this paper we consider the tax treatment of life insurance, considering the cancellation of tax incentives in Italian life insurance contracts for investors with high...
Persistent link: https://www.econbiz.de/10005839177
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Does Parental Divorce Affect Adolescents' Cognitive Development? Evidence from Longitudinal Data
Galdeano, Anna Sanz De - Centro Studi di Economia e Finanza (CSEF) - 2004
In this paper we analyse data from the National Education Longitudinal Study of 1988 to investigate whether experiencing parental divorce during adolescence reduces measured cognitive ability. To account for the potential endogeneity of parental divorce we employ a difference-in-differences...
Persistent link: https://www.econbiz.de/10005802046
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«Must Reward Hard Work»? An Experiment on Personal Responsibility and Preferences for Redistribution
Beraldo, Sergio; Piacenza, Massimiliano; Turati, Gilberto - Centro Studi di Economia e Finanza (CSEF) - 2014
This study designs a laboratory experiment to investigate the link between personal responsibility and individual preferences for redistribution. We contribute to the literature by considering two key insights: first, effort is costly; second, its fruits can be grasped only in the future....
Persistent link: https://www.econbiz.de/10010942481
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Occupational Mobility and Wealth Evolution in a Simple Model of Educational Investment with Credit Market Imperfections
D'Amato, Marcello; Pietro, Christian Di - Centro Studi di Economia e Finanza (CSEF) - 2011
We consider a model of occupational choice with credit market imperfections and local non convexities in education investment. The implications of individual heterogeneity for the evolution of wealth distribution and policies are studied. Convergence of the wealth distribution is obtained...
Persistent link: https://www.econbiz.de/10009372785
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Hysteresis Bands and Transaction Costs
Delgado, Francisco; Dumas, Bernard; Puopolo, Giovanni W. - Centro Studi di Economia e Finanza (CSEF) - 2011
In the presence of transactions costs, no matter how small, arbitrage activity does not necessarily render equal all riskless rates of return. When two such rates follow stochastic processes, it is not optimal immediately to arbitrage out any discrepancy that arises between them. The reason is...
Persistent link: https://www.econbiz.de/10009643792
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Excess Smoothness and Durable Goods: Evidence from Subjective Expectations Data
Padula, Mario - Centro Studi di Economia e Finanza (CSEF) - 2000
This paper derives and estimates a model where durable and non-durable consumption are allowed to be non-separable in …
Persistent link: https://www.econbiz.de/10005802071
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Trade Union Objectives and Economic Growth
Irmen, Andreas; Wigger, Berthold U. - Centro Studi di Economia e Finanza (CSEF) - 2000
A trade union whose purpose is to raise wages above the competitive level may foster economic growth if it succeeds in shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one of capitalists. We make this point in an...
Persistent link: https://www.econbiz.de/10005802087
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Euler Equations and Durable Goods
Padula, Mario - Centro Studi di Economia e Finanza (CSEF) - 1999
This paper deals with the estimation of the Euler Equation when durable consumption is taken into account. If durables … incorrect inference. I use microdata on non-durable and durable consumption from a US rotating panel, the Consumer Expenditure …
Persistent link: https://www.econbiz.de/10005750351