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In this paper, we investigate the relationship between financial wealth, reservation wages and labour market transitions. According to the theory, higher levels of wealth will result in higher reservation wages and lower employment probabilities. We test for the validity of this assumption by...
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Risk premia in the consumption capital asset pricing model depend on preferences and dividend. We develop a … of a preference-based stochastic discount factor for pricing assets with respect to the consumption innovation. Depending … individual consumption. …
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which production and consumption bundles are treated separately. Each of the two types of bundles is assumed to establish a …
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-ended question on the amount of total family consumption - with follow-up unfolding brackets (of the form: is consumption $X or more …
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Euler equation estimation of intertemporal consumption models requires many, often unverifiable assumptions. These … expectations have predictive power for the variation in consumption across households. Furthermore, estimates of the intertemporal …
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