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Inequality over the Business Cycle: Estimating Income Risk using Micro-Data on Consumption

Primiceri, Giorgio; Rens, Thijs van - EconWPA - 2002

in the 1980s and 90s. We decompose unexpected changes in family income into transitory and permanent, and idiosyncratic …We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality … mainly permanent; and that inequality is driven almost entirely by idiosyncratic income risk. In addition we find no evidence …

Persistent link: https://www.econbiz.de/10005126150

Pension Contributions as a Commitment device: evidence of sophistication among time-inconsistent households

Sourdin, Patricia - EconWPA - 2005

Sophisticated agents with self-control problems value commitment devices that constrain future choices. Using Australian household data, I test whether these households value commitment devices in the form of illiquid pension contributions. Applying various probabilistic choice models, the...

Persistent link: https://www.econbiz.de/10005556890

Savings, Intergenerational Transfers, and the Distribution of Wealth

Ocampo, Ignacio Ponce; Yuki, Kazuhiro - EconWPA - 2005

This paper investigates the quantitative importance of different savings motives on the distributions of wealth and consumption and aggregate capital accumulation by solving an overlapping generations model with intragenerational heterogeneity. Agents differ in age, ability, earnings shocks, and...

Persistent link: https://www.econbiz.de/10005561081

SAVINGS MOBILIZATION ROLE OF NIGERIAN COMMERCIAL BANKS:AN ANALYTICAL POLICY STUDY

NWAOBI, GODWIN CHUKWUDUM - EconWPA - 2003

CAPITAL ACCUMULATION HAS BEEN EMPHASISED AS THE MAJOR FACTOR GOVERING THE RATE OF DEVELOPMENT. THIS STUDY THEREFORE AIMS EXPLORING IN THE LIGHT OF PAST TRENDS, THE ROLE AND SCOPE OF COMMERCIAL BANKS AS FINANCIAL INTERMEDIARIES IN MOBILIZING DOMESTIC SAVINGS FOR DEVELOPMENT AND THE CONSTRAINTS IN...

Persistent link: https://www.econbiz.de/10005076971

Habits, Sentiment and Predictable Income in the Dynamics of Aggregate Consumption

Sommer, Martin - EconWPA - 2004

standard permanent income model: the sensitivity to lagged consumer sentiment, and to predictable changes in income. I show … that in a habit formation model, the sensitivity of consumption to predicted income can be largely reinterpreted as a …

Persistent link: https://www.econbiz.de/10005561179

Employment in Poland 2005

Bukowski, Maciej; Lewandowski, Piotr; Magda, Iga; … - EconWPA - 2005

and of the adverse supply shock that affected Polish economy in 2001-2002. We scrutinize the ability of various groups of …

Persistent link: https://www.econbiz.de/10005556757

The Rise in Returns to Education and the Decline in Household Savings

Chanda, Areendam - EconWPA - 2005

This paper explores the consequences of rising returns to human capital investment on the personal savings rate. Over the past two decades, the return to college education has increased relative to high school education leading economists to argue the presence of 'skill biased technological...

Persistent link: https://www.econbiz.de/10005076792

Efficiency-Enhancing Signalling in the Samaritan's Dilemma

Lagerlof, Johan - EconWPA - 2002

Suppose an altruistic person, A, is willing to transfer resources to a second person, B, if B comes upon hard times. If B anticipates that A will act in this manner, B will save too little from both agents' point of view. This is the Samaritan's dilemma. The logic of the dilemma has been...

Persistent link: https://www.econbiz.de/10005077070

Housing, Household Portfolio, and Intertemporal Elasticity of Substitution: Evidence from the Consumer Expenditure Survey

Hasanov, Fuad - EconWPA - 2005

This paper investigates whether the inclusion of housing in a household portfolio is important to the household’s intertemporal decision making. Households hold portfolios of assets rather than a Treasury bill and/or a stock index and make their spending decisions based on expected total...

Persistent link: https://www.econbiz.de/10005126248

The Rate of Interest or the Rate of Return: Estimating Intertemporal Elasticity of Substitution

Dacy, Douglas; Hasanov, Fuad - EconWPA - 2005

This paper investigates whether the rate of interest such as the Treasury bill rate or the rate of return such as the return on a household portfolio is more relevant to the household’s intertemporal decision making. In a current era, households are diversifiers (to use Tobin’s 1958 term)...

Persistent link: https://www.econbiz.de/10005126444

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