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Household finance and the welfare state: a case study of the United States, 1980-­2010
Gerba, Eddie; Schelkle, Waltraud - London School of Economics (LSE) - 2014
The sharp rise in household finance, both in debt and in assets, is one of the striking empirical facts about the US economy of the last two decades. But it is still not clear what caused it. Economists, both mainstream and heterodox, seek an explanation in financial market innovation and...
Persistent link: https://www.econbiz.de/10011126600
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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 …
Persistent link: https://www.econbiz.de/10011071178
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The part-time pay penalty
Manning, Alan; Petrongolo, Barbara - London School of Economics (LSE) - 2005
Women working part-time in the UK have hourly earnings that are on average 26 percent less than women working fulltime. Alan Manning and Barbara Petrongolo investigate what's behind this part-time pay penalty.
Persistent link: https://www.econbiz.de/10010745868
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The part-time pay penalty
Manning, Alan; Petrongolo, Barbara - London School of Economics (LSE) - 2005
In 2003, women working part-time in the UK earned, on average, 22% less than women working full-time. Compared to women who work FT, PT women are more likely to have low levels of education, to be in a couple, to have young and numerous children, to work in small establishments in distribution,...
Persistent link: https://www.econbiz.de/10010746243
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Homeownerhip and entrepreneurship
Bracke, Philippe; Hilber, Christian; Silva, Olmo - London School of Economics (LSE) - 2012
We study the link between homeownership and entrepreneurship by exploiting the longitudinal dimension of the British … after entering homeownership. The negative link can be rationalized by portfolio considerations: leveraged housing …
Persistent link: https://www.econbiz.de/10011126138
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A reconciliation of two alternative approaches towards buffer stock saving
Michaelides, Alexander - London School of Economics (LSE) - 2003
social insurance during unemployment) is crucial in determining the level (but not the shape) of optimal consumption as a …
Persistent link: https://www.econbiz.de/10010745934
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Do households use home-ownership to insure themselves? Evidence across U.S. cities
Amior, Michael; Halket, Jonathan - London School of Economics (LSE) - 2014
Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … disentangle the contributions of high price levels from high volatilities by building a life-cycle model of home-ownership choices …. We find that higher price levels can explain most of the lower home-ownership. Higher risk in the model leads to slightly …
Persistent link: https://www.econbiz.de/10011126690
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The risk of divorce and household saving behavior
González, Libertad; Özcan, Berkay - London School of Economics (LSE) - 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/10011071224
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Aggregate implications of defined benefit and defined contribution systems
Gomes, Francisco; Michaelides, Alexander - London School of Economics (LSE) - 2003
We use a general equilibrium life-cycle model with incomplete markets and heterogeneous agents to evaluate the macroeconomic and welfare implications of Defined Benefit (DB) versus Defined Contribution (DC) systems, and to investigate the effects of incremental reform within a particular system....
Persistent link: https://www.econbiz.de/10010746402
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James Tobin : an appreciation of his contribution to economics
Buiter, Willem H. - London School of Economics (LSE) - 2003
Jim Tobin, who died on March 11, 2002 at the age of 84, was one of giants of economics of the second half of the twentieth century and the greatest macroeconomist of his generation. Tobin’s influence on macroeconomic theory is so pervasive - so much part of our professional ‘acquis’ - that...
Persistent link: https://www.econbiz.de/10011071326