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For a sub-sample of French households of an Insee wealth survey, we obtain new and relative measures of 5 individual … altruism are found no to affect wealth but, contrarily to recent results of behavioural analysis, the three other parameters … have significant effects on wealth (financial, gross or net), which are consistent with theoretical predictions : wealth …
Persistent link: https://www.econbiz.de/10010739045
A lot of empirical and behavioral studies underline the idea of a non-flat term structure of subjective interest rates with a decreasing slope. Using an empirical test, this paper aims at identifying in individual behaviors whether agents see their psychological value of time decreasing or not....
Persistent link: https://www.econbiz.de/10008792104
We explore empirically whether earnings uncertainty and borrowing constraints deter households from the stockmarket, consistent with the predictions of theoretical studies of portfolio choice in the presence of uninsurable earnings. Recent extensions highlight the importance of the correlation...
Persistent link: https://www.econbiz.de/10010738868
Hülsmann (2008) argues that the neglect of time preference changes on the demand side of the time market renders Rothbard's (1993) analysis incomplete in that it unduly portrays a rise in the volume of investment as a necessary counterpart to a fall in the pure interest rate. Focusing on the...
Persistent link: https://www.econbiz.de/10010548613
In this paper, we consider that our experience of time (to come) depends on the emotions we feel when we imagine future pleasant or unpleasant events. A positive emotion such as relief or joy associated with a pleasant event that will happen in the future induces impatience. Impatience, in our...
Persistent link: https://www.econbiz.de/10010738737
Increasing impatience reduces search efforts of unemployed job seekers and therefore decreases the exit rate from unemployment. Also, impatience reduces reservation wage and increases the exit rate. To determine the overall effect of impatience on the exit rate from unemployment, we distinguish...
Persistent link: https://www.econbiz.de/10008839225
analysis links highly detailed individual level fertility life histories to wealth at death data for four rural villages in …
Persistent link: https://www.econbiz.de/10010738834
There is a capital taxation puzzle in most developed countries. Since the 1960s, revenues from wealth transfer taxation … cases; by contrast, lifetime wealth or capital taxation generates much higher revenues and shows no decreasing trend. The … full tax puzzle is certainly not easy to explain. Many usual explanations of the aversion to wealth transfer taxation also …
Persistent link: https://www.econbiz.de/10010738837
1950, and back up to about 15% by 2010. A simple theoretical model of wealth accumulation, growth and inheritance can fully … wealth accumulation well above 100%. Our findings illustrate the fact that when the growth rate g is small, and when the rate … of return to private wealth r is permanently and substantially larger than the growth rate (say, r=4%-5% vs. g=1 …
Persistent link: https://www.econbiz.de/10010738844
in explaining households' wealth behaviors, and to construct more accurate tests of the theories of savings and portfolio … composition of wealth are similar across surveys, in line with theoretical predictions, and more significant than those obtained …
Persistent link: https://www.econbiz.de/10010738899