Showing 1 - 5 of 5
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
We consider an exchange economy with time-inconsistent consumers whose preferences are additively separable. When these consumers trade in a sequence of markets, their time-inconsistency may introduce a non-convexity that gives them an incentive to trade lotteries. If there are many consumers,...
Persistent link: https://www.econbiz.de/10010884660
Which pricing kernel restrictions are needed to make low dimensional Markov models consistent with given sets of predictions on aggregate stock-market fluctuations ? This paper develops theoretical test conditions addressing this and related reverse engineering issues arising within a fairly...
Persistent link: https://www.econbiz.de/10010746351
This paper tests if gender-discrimination in grading affects pupils' achievements and course choices. I use a unique dataset containing grades given by teachers, scores obtained anonymously by pupils at different ages, and their course choice during high school. Based on double-differences, the...
Persistent link: https://www.econbiz.de/10011266091
We discuss the contribution of the experimental literature to the understanding of both traditional and previously unexplored dimensions of gender differences and discuss their bearings on labor market outcomes. Experiments have offered new findings on gender discrimination, and while they have...
Persistent link: https://www.econbiz.de/10011126362