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Feigenbaum, James - Society for Computational Economics - SCE - 2006

Precautionary saving has engendered much interest, both because of the possibility that it can explain why, contrary to the basic Lifecycle/Permanent-Income Hypothesis, consumption roughly tracks income over the lifecycle and because of speculation that precautionary saving might account for a...

Persistent link: https://www.econbiz.de/10005342921

Quantifying the Inefficiency of the US Social Security System

Parra, J. C.; Huggett, M. - Society for Computational Economics - SCE - 2005

We quantify the inefficiency of the retirement component of the US social security system within a model where agents receive idiosyncratic labor-productivity shocks that are privately observed

Persistent link: https://www.econbiz.de/10005342987

Education and Self-Employment: Relationships between Earnings and Wealth Inequality

Terajima, Yaz - Society for Computational Economics - SCE - 2005

for changes in the relative wealth of households over 1983-2001 in the United States. Among households whose head is a … much this exercise can account for the changes in the relative average wealth of college self-employed households. The … college worker households. This study can identify some institutional changes which could further account for the changes in …

Persistent link: https://www.econbiz.de/10005343004

Housing, Personal Bankruptcy, Entrepreneurship

Terajima, Yaz; Meh, Cesaire - Society for Computational Economics - SCE - 2005

numbuer is higher than the fraction of households who own a small business, an unproportionally high fraction of small …

Persistent link: https://www.econbiz.de/10005343040

Portfolio choice, life-cycle and idiosyncratic income risk : the semi-external habit formation approach

Weitzenblum, Thomas; Bernard, Philippe - Society for Computational Economics - SCE - 2004

In line with Campbell and Cochrane (1999) and Gomes and Michaelides (2003), we study the implications of various types of habit formation in a further examination of some asset pricing puzzles. Precisely, we build an overlapping generations economy consisting of different types of agents...

Persistent link: https://www.econbiz.de/10005345339

Co-existence of Credit Card Debt with Liquid and Retirement Assets: Two Puzzles or None?

Haliassos, Michael; Reiter, Michael - Society for Computational Economics - SCE - 2002

Persistent link: https://www.econbiz.de/10005345426

The Implications of Lower Down Payments on Consumption Volatility

Farr, Christopher; Luengo-Prado, Maria J. - Society for Computational Economics - SCE - 2001

We examine the effects of decreasing down payment requirements on consumption volatility within a model which generalizes the standard buffer-stock model of saving to accommodate durables, nondurables and a collateralized liquidity constraint. We consider both a version of the model without...

Persistent link: https://www.econbiz.de/10005345569

Habit Formation, Catching up with the Joneses, and Non-Scale Growth

Alvarez, Francisco; Monteiro, Goncalo - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345648

Second- and Higher-Order Consumption Functions: A Precautionary Tale

Feigenbaum, James - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345652

Economic Growth and the Evolution of Preferences under Uncertainty

Foster, John; McDonald, Stuart; Beard, Rodney - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345711