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The Response of Consumption in Russian Households to Economic Shocks
Stillman, Steven - Institute for the Study of Labor (IZA) - 2001
wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During …
Persistent link: https://www.econbiz.de/10005566824
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On the Definition and Measurement of Chronic Poverty
Aaberge, Rolf; Mogstad, Magne - Institute for the Study of Labor (IZA) - 2007
As an alternative to the conventional methods for measuring chronic poverty, this paper proposes an interpersonal comparable measure of permanent income as a basis for defining and measuring chronic poverty. This approach accounts for the fact that individuals regularly undertake inter-period...
Persistent link: https://www.econbiz.de/10005233735
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Early Retirement Behaviour in the Netherlands: Evidence from a Policy Reform
Euwals, Rob; Vuuren, Daniel van; Wolthoff, Ronald - Institute for the Study of Labor (IZA) - 2006
In the early 1990s, the Dutch social partners agreed upon transforming the generous and actuarially unfair PAYG early retirement schemes into less generous and actuarially fair capital funded schemes. The starting dates of the transitional arrangements varied by industry sector. In this study,...
Persistent link: https://www.econbiz.de/10005822332
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Time Preferences and Criminal Behavior
Akerlund, David; Golsteyn, Bart H.H.; Grönqvist, Hans; … - Institute for the Study of Labor (IZA) - 2014
One main motive behind lengthy prison terms for serious crime is to deter potential offenders from engaging in crime. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals discount future events when balancing the immediate utility...
Persistent link: https://www.econbiz.de/10010884153
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Evidence on Individual Preferences for Longevity Risk
Delprat, Gaëtan; Leroux, Marie-Louise; Michaud, Pierre-Carl - Institute for the Study of Labor (IZA) - 2013
The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity, agents are not sensitive to a mean preserving spread in the length of life. Using a survey fielded in the RAND American Life Panel (ALP), this paper provides empirical evidence on...
Persistent link: https://www.econbiz.de/10010884266
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Time Preferences and Lifetime Outcomes
Golsteyn, Bart H.H.; Grönqvist, Hans; Lindahl, Lena - Institute for the Study of Labor (IZA) - 2013
This paper investigates the relationship between time preferences and lifetime social and economic behavior. We use a Swedish longitudinal dataset that links information from a large survey on children's time preferences at age 13 to administrative registers spanning over five decades. Our...
Persistent link: https://www.econbiz.de/10010960125
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Risk Preferences Are Not Time Preferences: Comment
Cheung, Stephen L. - Institute for the Study of Labor (IZA) - 2012
Andreoni and Sprenger (in press) report evidence that distinct utility functions govern choices under certainty and risk. I investigate the robustness of their result to the experimental design. I find that the effect disappears completely when a multiple price list is used instead of a convex...
Persistent link: https://www.econbiz.de/10010717460
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Measuring Long-Term Inequality of Opportunity
Aaberge, Rolf; Mogstad, Magne; Peragine, Vitorocco - Institute for the Study of Labor (IZA) - 2010
In this paper, we introduce and apply a general framework for evaluating long-term income distributions according to the Equality of Opportunity principle. Our framework allows for both an ex-ante and an ex-post approach to EOp. Our ex-post approach relies on a permanent income measure defined...
Persistent link: https://www.econbiz.de/10008543265
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Loss Aversion and Intertemporal Choice: A Laboratory Investigation
Oxoby, Robert J.; Morrison, William G. - Institute for the Study of Labor (IZA) - 2010
We present results from a laboratory study of loss aversion in the context of intertemporal choice. We investigate whether the provision of (windfall) endowments results in different elicited discount rates relative to subjects who earn income or earn and retain the income for a period before...
Persistent link: https://www.econbiz.de/10008547897
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Kinky Choices, Dictators and Split Might: A Non-Cooperative Model for Household Consumption and Labor Supply
Boone, Jan; van der Wiel, Karen; Vermeulen, Frederic - Institute for the Study of Labor (IZA) - 2009
on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor …
Persistent link: https://www.econbiz.de/10004969337