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The effect of health on consumption decisions in later life: evidence from the UK

Karagiannaki, Eleni - London School of Economics (LSE) - 2009

The analysis in this paper focuses on the impact of health on the savings and consumption decisions of the elderly. In principle, there are at least five alternative channels through which health may affect consumption and savings. Ill health may affect both consumption capacities and needs...

Persistent link: https://www.econbiz.de/10010884492

Efficiency and equilibrium when preferences are time-inconsistent

Luttmer, Erzo G. J.; Mariotti, Thomas - London School of Economics (LSE) - 2003

We consider an exchange economy with time-inconsistent consumers whose preferences are additively separable. When these … efficient in this sense, and for generic endowments, if and only if preferences are locally homothetic. For non …-homothetic preferences, the introduction of lottery markets has an ambiguous impact on the equilibrium welfare of consumers at the initial …

Persistent link: https://www.econbiz.de/10010884660

A reconciliation of two alternative approaches towards buffer stock saving

Michaelides, Alexander - London School of Economics (LSE) - 2003

This paper shows that the two main models in the buffer stock saving literature can be nested in a model that varies the level of available social insurance. Equivalently, the assumption about the time series process for labor income (and social insurance during unemployment) is crucial in...

Persistent link: https://www.econbiz.de/10010745934

General properties of rational stock-market fluctuations

Mele, Antonio - London School of Economics (LSE) - 2004

affect the first primitives of the economy (probabilistic descriptions of the world, information structures, and preferences … variables, state-dependent preferences, and incomplete markets. …

Persistent link: https://www.econbiz.de/10010746351

Looking ahead: subjective time perception and individual discounting

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

time perception using experimental data from incentive-compatible tests to measure time preferences, and a set of … ahead to future events. The first is that some component of time preferences reflect hyperbolic discounting. The second …

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

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-to-value (LTV) ratios at the city level are strongly negatively correlated with local house price volatility. However, causal inference is confounded by house price levels,...

Persistent link: https://www.econbiz.de/10011126690

The magnitude and correlates of inter-vivos transfers in the UK

Karagiannaki, Eleni - London School of Economics (LSE) - 2011

This paper uses data from the British Household Panel Survey and the Attitudes to Inheritances Survey to estimate the magnitude of and the factors that are correlated with private inter-household transfers from parents to their adult children in the UK. Our evidence suggests that inter vivos...

Persistent link: https://www.econbiz.de/10011071119

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

Can the retirement-consumption puzzle be resolved?: evidence from the British Household Panel Survey.

Smith, Sarah - London School of Economics (LSE) - 2005

This paper uses data from the British Household Panel Survey to shed further light on the fall in spending at retirement (the “retirement-consumption puzzle”). Comparing food spending for men retiring involuntarily early (through ill health or redundancy) with spending for those who retire...

Persistent link: https://www.econbiz.de/10011071203

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