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Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality
Primiceri, Giorgio; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2007
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 decompose idiosyncratic changes in income into predictable lifecycle … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …
Persistent link: https://www.econbiz.de/10005703321
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Partial Insurance and Investments in Children
Carneiro, Pedro; Ginja, Rita - Institute for the Study of Labor (IZA) - 2015
This paper studies the impact of permanent and transitory shocks to income on parental investments in children. We use panel data on family income, and an index of investments in children in time and goods, from the Children of the National Longitudinal Survey of Youth. Consistent with the...
Persistent link: https://www.econbiz.de/10011265290
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The Response of Consumption in Russian Households to Economic Shocks
Stillman, Steven - Institute for the Study of Labor (IZA) - 2001
This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During … 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. …
Persistent link: https://www.econbiz.de/10005566824
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The Risk of Divorce and Household Saving Behavior
Gonzalez, Libertad; Özcan, Berkay - Institute for the Study of Labor (IZA) - 2008
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/10005233842
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The Disappearing Gender Gap: The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work
Fernández, Raquel; Wong, Joyce Cheng - Institute for the Study of Labor (IZA) - 2011
Women born in 1935 went to college significantly less than their male counterparts and married women's labor force participation (LFP) averaged 40% between the ages of thirty and forty. The cohort born twenty years later behaved very differently. The education gender gap was eliminated and...
Persistent link: https://www.econbiz.de/10009353427
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Income Uncertainty and Household Savings in China
Chamon, Marcos; Liu, Kai; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2010
China's household saving rate has increased markedly since the mid-1990s and the age-saving profile has become U-shaped. Using a panel of urban Chinese households covering 1989-2006, we document a sharp increase in income uncertainty. While the permanent variance of household income was stable,...
Persistent link: https://www.econbiz.de/10008742952
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Income Inequality and Saving
Alvarez-Cuadrado, Francisco; El-Attar, Mayssun - Institute for the Study of Labor (IZA) - 2012
consistent with these trends. When households care about their consumption relative to others, individual saving rates decrease …
Persistent link: https://www.econbiz.de/10010604098
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Risk and Saving in Two-Person Households: More Scope for Precautionary Saving
Apps, Patricia; Andrienko, Yuri; Rees, Ray - Institute for the Study of Labor (IZA) - 2012
The existing literature suggests that when the saving decision of two-earner households under risk is analysed, standard results on the existence of precautionary saving no longer apply: precautionary saving is obtained if and only if very stringent conditions hold. This paper shows that when...
Persistent link: https://www.econbiz.de/10010812036
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"Should I Pay for You or for Myself"? The Optimal Level and Composition of Retirement Benefit Systems
Praag, Bernard M.S. van; Cardoso, Pedro - Institute for the Study of Labor (IZA) - 2001
Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...
Persistent link: https://www.econbiz.de/10005762407
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Debt Portfolios
Hintermaier, Thomas; Koeniger, Winfried - Institute for the Study of Labor (IZA) - 2011
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...
Persistent link: https://www.econbiz.de/10009003472