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Intertemporal Consumption with Directly Measured Welfare Functions and Subjective Expectations
van soest, arthur; Kapteyn, A.; Kleinjans, K. - Tilburg University, Center for Economic Research - 2008
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 …
Persistent link: https://www.econbiz.de/10011092114
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Taxes, Growth and Welfare in an Endogenous Growth Model with Overlapping Generations
Meijdam, Lex - Tilburg University, Center for Economic Research - 1998
Persistent link: https://www.econbiz.de/10011091456
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Credit Cycle and Adverse Selection Effects in Consumer Credit Markets – Evidence from the HELOC Market
Calem, P.; Cannon, M.; Nakamura, L.I. - Tilburg University, Center for Economic Research - 2011
We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions...
Persistent link: https://www.econbiz.de/10011092716
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The HIV Anticaptory Saving Motive : An Empirical Analysis in South Africa
Kuilen, Gijs van de; Lammers, J. - Tilburg University, Center for Economic Research - 2007
This paper studies the effect of the HIV/AIDS epidemic on saving behaviour. Two important characteristics of HIV result in opposing forces on savings: mortality increases, which reduces savings, and long-term illness risk increases, which enhances savings. We use a two period life-cycle model...
Persistent link: https://www.econbiz.de/10011090867
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Higher Order Risk Attitudes, Demographics, and Financial Decisions
Noussair, Charles; Trautmann, Stefan T.; Kuilen, Gijs van de - Tilburg University, Center for Economic Research - 2011
We conduct an experiment to study the prevalence of the higher order risk attitudes of prudence and temperance, in a large demographically representative sample, as well as in a sample of undergraduate students. Participants make pairwise choices between lotteries of the form proposed by...
Persistent link: https://www.econbiz.de/10011091811
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Optimal Annuitization with Incomplete Annuity Markets and Background Risk During Retirement
Nijman, Theo; Werker, Bas J.M.; Peijnenburg, J.M.J. - Tilburg University, Center for Economic Research - 2010
desired, individuals save sizeable amounts out of their annuity income to smooth consumption shocks. Similarly, adding …
Persistent link: https://www.econbiz.de/10011090908
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Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers
van Dalen, H.P.; Henkens, K.; Hershey, D.A. - Tilburg University, Center for Economic Research - 2008
Are retirement savings sufficient to finance a good pension income? This highly uncertain and subjective dimension of life cycle decision making is assessed among married working individuals using an identical survey distributed to Dutch and American workers in 2007. Despite marked differences...
Persistent link: https://www.econbiz.de/10011092199
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Health Cost Risk and Optimal Retirement Provision : A Simple Rule for Annuity Demand
Nijman, Theo; Werker, Bas J.M.; Peijnenburg, J.M.J. - Tilburg University, Center for Economic Research - 2010
We analyze the effect of health cost risk on optimal annuity demand and consumption/savings decisions. Many retirees … cover these costs and smooth consumption. We find that if out-of-pocket medical expenses can already be sizeable early in … for annuity demand, based on expected health cost risk early in retirement, wealth at retirement, and minimum consumption …
Persistent link: https://www.econbiz.de/10011092924
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HIV/AIDS Contamination Risk, Savings and the Welfare Effects of Diagnostic Testing
Meijdam, Lex; Lammers, J.; Verbon, H.A.A. - Tilburg University, Center for Economic Research - 2007
HIV. The model specifies a utility function that includes both regular consumption, and medical expenditures. Medical … consumption after being tested HIV positive. The paper describes different effects on aggregate savings according to different …
Persistent link: https://www.econbiz.de/10011090784
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Precautionary Motives and Portfolio Decisions
Hochgürtel, S. - Tilburg University, Center for Economic Research - 1997
Theory predicts that under certain restrictions on preferences prudent consumers will allocate relatively more funds to riskless assets when there is uninsurable background risk. This paper analyzes empirically the relevance of precautionary motives for the structure of household wealth. To this...
Persistent link: https://www.econbiz.de/10011092162