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Time Nonseparability in Aggregate Consumption : International Evidence
Braun, Phillip A. - 1992
We study consumption-based asset pricing models which allow for both habit persistence and durability of consumption goods. using quarterly consumption and asset return data for six countries. We estimate the parameters representing habit persistence or durability. risk version and time...
Persistent link: https://www.econbiz.de/10012474871
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Mortality risk and consumption by couples
Hurd, Michael D. - National Bureau of Economic Research - 1999
Persistent link: https://www.econbiz.de/10014385707
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Dynamic Optimization Meets Budgeting : Unraveling Financial Complexities
Fenig, Guidon - 2024
This paper explores sources of complexity in dynamic optimization, examining how individuals navigate variation in incomes, prices, and returns in ten-period consumption-saving decisions. Our findings reveal that dynamic optimization poses significant challenges, resulting in suboptimal choices...
Persistent link: https://www.econbiz.de/10015056146
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Consumer Durables and Inertial Behavior : Estimation and Aggregation of (S,s) Rules
Attanasio, Orazio P. - 1995
, aggregation issues are considered. First, the paper presents a number of negative results. Then, several simulations aimed at …
Persistent link: https://www.econbiz.de/10012473593
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Risks For the Long Run : Estimation with Time Aggregation
Bansal, Ravi - 2012
us to estimate models with recursive preferences, latent state variables, and time-aggregated data. Time-aggregation … makes the decision interval of the agent an important parameter to estimate. We find that time-aggregation can significantly … affect parameter estimates and statistical inference. Imposing the pricing restrictions and explicitly accounting for time-aggregation …
Persistent link: https://www.econbiz.de/10012460356
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Monetary policy rules : [papers based on the National Bureau of Economic Research Conference on Research in Business Cycles, held at Stanford University, 1998]
Taylor, John B. (ed.) - 2001 - Paperback ed.
Persistent link: https://www.econbiz.de/10001535296
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Monetary policy rules
Taylor, John B. (ed.) - 1999
Persistent link: https://www.econbiz.de/10001353848
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Induced Retirement, Social Security, and the Pyramid Mirage
Mulligan, Casey B. - 2000
Does Social Security redistribute across cohorts? Or is it a program for purchasing the jobs' of the elderly? I formalize both models, showing how they have some predictions in common the most important of which is that generational accounts have the appearance of a pyramid scheme.' I also...
Persistent link: https://www.econbiz.de/10012471088
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The Share Price Effects of Dividend Taxes and Tax Imputation Credits
Harris, Trevor S. - 1999
We examine the hypothesis that dividend taxes are capitalized into share prices by focusing on investors' implicit valuations of retained earnings versus paid-in equity. Retained earnings are distributable as taxable dividends, whereas paid-in equity is distributable as a tax-free return of...
Persistent link: https://www.econbiz.de/10012471338
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The Determinants of Cross-Border Equity Flows
Portes, Richard - 1999
We apply a new approach to a new panel data set on bilateral gross cross-border equity flows between 14 countries, 1989-96. The remarkably good results have strong implications for theories of asset trade. We find that the geography of information heavily determines the pattern of international...
Persistent link: https://www.econbiz.de/10012471448