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Improving the Quality of Choices in Health Insurance Markets
Abaluck, Jason - 2016
Insurance product choice is a central feature of health insurance markets in the United States, yet there is ongoing concern over whether consumers choose appropriately in such markets - and little evidence on solutions to any choice inconsistencies. This paper addresses these omissions from the...
Persistent link: https://www.econbiz.de/10012455763
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On the Welfare Costs of Consumption Uncertainty
Barro, Robert J. - 2006
Satisfactory calculations of the welfare cost of aggregate consumption uncertainty require a framework that replicates major features of asset prices and returns, such as the high equity premium and low risk-free rate. A Lucas-tree model with rare but large disasters is such a framework. In a...
Persistent link: https://www.econbiz.de/10012465898
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Equity Premia with Benchmark Levels of Consumption : Closed-Form Results
Abel, Andrew B. - 2006
I calculate exact expressions for risk premia, term premia, and the premium on levered equity in a framework that includes habit formation, keeping/catching up with the Joneses, and possible departures from rational expectations. Closed-form expressions for the first and second moments of...
Persistent link: https://www.econbiz.de/10012466378
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Durable Goods and Conformity
House, Christopher L. - 2006
Is the variety of products supplied in markets a reflection of the diversity of consumers' preferences? In this paper, we argue that the distribution of durable goods offered in markets tends to be compressed relative to the distribution of consumers' underlying preferences. In particular, there...
Persistent link: https://www.econbiz.de/10012466641
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The Marginal Propensity to Consume in Heterogeneous Agent Models
Kaplan, Greg; Violante, Giovanni L. - National Bureau of Economic Research - 2022
What model features and calibration strategies yield a large average marginal propensity to consume (MPC) in heterogeneous agent models? Through a systematic investigation of models with different preferences, dimensions of ex-ante heterogeneity, income processes and asset structure, we show...
Persistent link: https://www.econbiz.de/10013210041
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Consumption and Government-Budget Finance in a High-Deficit Economy
Leiderman, Leonardo - 1986
This paper characterizes empirically how government budget variables, such as spending, taxes, and deficits, affected private-sector consumption in the high-budget-deficit economy of Israel during the first half of the 1980s. The paper develops and estimates an intertemporal optimizing model of...
Persistent link: https://www.econbiz.de/10012477038
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Real Interest and Consumption
Hall, Robert E. - 1985
One of the important determinants of the response of saving and consumption to the real interest rate is the elasticity of intertemporal substitution. That elasticity can be measured by the response of the rate of change of consumption to changes in the expected real interest rate. A detailed...
Persistent link: https://www.econbiz.de/10012477386
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The Rise of Niche Consumption
Neiman, Brent - 2019
products are available, households select products better matched to their tastes. This delivers welfare gains from selection …
Persistent link: https://www.econbiz.de/10012480080
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Microeconometric Models of Consumer Demand
Dubé, Jean-Pierre H. - 2018
individualized welfare analysis. A descriptive analysis of a broad, CPG database indicates that most consumer brand categories offer …
Persistent link: https://www.econbiz.de/10012480866
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The Evolution of Brand Preferences : Evidence from Consumer Migration
Bronnenberg, Bart J. - 2010
We study the long-run evolution of brand preferences, using new data on consumers' life histories and purchases of … advertising. Heterogeneity in brand preferences explains 40 percent of geographic variation in market shares. These preferences … years in the past still exerting a significant effect on current consumption. Counterfactuals suggest that brand preferences …
Persistent link: https://www.econbiz.de/10012462389