-cycle wealth accumulation and portfolios allowing for uncertain returns, incomes, and lifespan. We separate the effects of various … factors on mean and median asset holdings, including education, risk aversion, household heterogeneity, bequests, impatience …

This paper studies effects of two classes of borrowing constraints, collateral- and income-based, on wealth … on wealth turns out to be a very special case among collateral constraints: not only is constrained consumption equal to … income but precautionary wealth holding is zero. Income-based constraints reverse the sign of precautionary effects on …

Five waves of the Panel Study of Income Dynamics (PSID), 1985-1989 including both wealth supplements, are used to … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly …

Five waves of the Panel Study of Income Dynamics (PSID), 1985-1989 including both wealth supplements, are used to … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly …

=========================================================== CONCEPTS DERIVED :- 01. DOMESTIC INVESTMENTS THROUGH DOMESTIC SAVINGS – EXOGENOUS CIRCLE. (INDIVIDUAL / CORPORATE / GOVERNMENT …

This paper explores the consequences of rising returns to human capital investment on the personal savings rate. Over … to argue the presence of 'skill biased technological progress'. The literature explaining household savings has also … negative relationship between returns to education and savings rates across most of the past century and also a negative …