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Credit card debt and default over the life-cycle

Lopes, Paula - London School of Economics (LSE) - 2003

This paper solves an empirically parameterised model of life-cycle consumption which extends the precautionary savings models of Carroll (1997), and Deaton (1991), to allow for uncollaterized borrowing and default. In case households choose to default: (i) their access to credit markets is...

Persistent link: https://www.econbiz.de/10011071178

Homeownerhip and entrepreneurship

Bracke, Philippe; Hilber, Christian; Silva, Olmo - London School of Economics (LSE) - 2012

after entering homeownership. The negative link can be rationalized by portfolio considerations: leveraged housing …

Persistent link: https://www.econbiz.de/10011126138

House prices and rents: micro evidence from a matched dataset in Central London

Bracke, Philippe - London School of Economics (LSE) - 2013

Using the proprietary dataset of a real estate agency, I analyse tens of thousands of housing sale and rental …

Persistent link: https://www.econbiz.de/10010744927

Immigration and the access to social housing in the UK

Battiston, Diego; Dickens, Richard; Manning, Alan; … - London School of Economics (LSE) - 2014

This paper investigates the impact of immigration on the probability of being in social housing in the UK. In recent … years immigrant households are slightly more likely than natives to be in social housing but once one controls for relevant … household characteristics immigrants are significantly less likely to be in social housing than natives. However, there has been …

Persistent link: https://www.econbiz.de/10011126582

Are annuities value for money?: who can afford them?

Lopes, Paula - London School of Economics (LSE) - 2003

This paper solves an empirically parameterized model of households’ optimal demand for nominal and inflation indexed annuities. The model incorporates mortality, inflation, and real interest rate risk. The model draws some interesting predictions. First, the welfare calculations on the access...

Persistent link: https://www.econbiz.de/10010745194

Rare events and annuity market participation

Lopes, Paula; Michaelides, Alexander - London School of Economics (LSE) - 2005

We investigate whether a rare event (like the default of the annuity provider) can explain the annuity market participation puzzle. High risk aversion is needed to change behavior in the presence of such a disastrous shock but higher risk aversion also makes annuities more valuable. Therefore,...

Persistent link: https://www.econbiz.de/10010745400

How deep is the annuity market participation puzzle?

Inkmann, Joachim; Lopes, Paula; Michaelides, Alexander - London School of Economics (LSE) - 2007

Using U.K. microeconomic data, we analyze the empirical determinants of voluntary annuity market demand. We find that annuity market participation increases with financial wealth, life expectancy and education and decreases with other pension income and a possible bequest motive for surviving...

Persistent link: https://www.econbiz.de/10011071216

Looking ahead: subjective time perception and individual discounting

Bradford, W. David; Dolan, Paul; Galizzi, Matteo M. - London School of Economics (LSE) - 2014

Time discounting is at the heart of economic decision-making. We disentangle hyperbolic discounting from subjective time perception using experimental data from incentive-compatible tests to measure time preferences, and a set of experimental tasks to measure time perception. The two behavioural...

Persistent link: https://www.econbiz.de/10011126346