Showing 1 - 10 of 49
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10005771959
We analyze the impact of an increase in the risk of divorce on the saving behaviour of married couples. From a theoretical perspective, the expected sign of the effect is ambiguous. We take advantage of the legalization of divorce in Ireland in 1996 as an exogenous increase in the likelihood of...
Persistent link: https://www.econbiz.de/10005772177
We examine how much of an extra dollar of parental lifetime resources will ultimately be passed on to adult children in the form of inter vivos transfers and bequests. We infer bequests from the stock of wealth late in life. We use mortality rates and age specific estimates of the response of...
Persistent link: https://www.econbiz.de/10005772218
We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality in the 1980s and 90s. We decompose unexpected changes in family income into transitory and permanent, and idiosyncratic and aggregate components, and estimate the contribution...
Persistent link: https://www.econbiz.de/10005772245
The responsiveness of long-term household debt to the interest rate is a crucial parameter for assessing the effectiveness of public policies aimed at promoting specific types of saving. This paper estimates the effect of a reform of Credito Bonificado, a large program in Portugal that...
Persistent link: https://www.econbiz.de/10005772296
This paper studies the effects of uncertain lifetime on capital accumulation and growth and also the sensitivity of … asymptotic growth, which is impossible in an economy with a perfect annuities market or with certain lifetimes. This paper also …. This effect of uncertain lifetime on savings may also lead the economy to an equilibrium exhibiting asymptotic growth even …
Persistent link: https://www.econbiz.de/10005704886
control for patience and math proficiency, which are significantly related to performance in the CRT. But the effect of 2D:4D …
Persistent link: https://www.econbiz.de/10010659466
that leads to the stabilization of concentrations at 450 ppm. (2) North and South converge to a path of sustained growth at … year while South’s rates of growth are markedly higher. The transition paths require a drastic reduction of the share of … education in South. Surprisingly, in order to sustain North’s utility growth rate, some output must be transferred from South to …
Persistent link: https://www.econbiz.de/10008680902
both an engine of growth and a potential barrier to it. As a result, growth is an inverse U-shaped function of the … standardization rate (and of competition). Second, we characterize the growth and welfare maximizing speed of standardization. We show …
Persistent link: https://www.econbiz.de/10010849616
We study a dynamic model where growth requires both long-term investment and the selection of talented managers. When …
Persistent link: https://www.econbiz.de/10010849627