unobserved heterogeneity via individual household effects and to track changes in household behaviour over time. Second, by … the determinants of household debt holding and to investigate whether or not credit constraints are important for … household debt holding. We extend the existing literature in important ways. First, we present comparative evidence for four …

to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the … household consumed permanently at the poverty line. The results indicate that vulnerability is very sensitive to the time …

with real monetary rewards conduEted among students in South Africa to estimate risk and time preferences. These …. (2002, 2005), show that HIV+ agents and participants that perceive to have a high HIV contraction risk are less risk … time preference are not considered simultaneously. We correct for differential mortality risk, risk aversion and …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA … their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …

Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the …

data from a representative Dutch household panel to study the impact of uncertainty regarding one's savings adequacy on …

Risk may induce precautionary saving but it can also reduce saving. The theoretical literature recognizes both …-period model how the effect of risk on savings depends not only on preferences but also on the type of risk. …

Since the early nineties, the Dutch tax system allows for a tax-favored form of risk free savings through employer …-tax returns by far exceeding the returns to other financial assets such as risk free savingaccounts or stocks and bonds. It … that they can allocate to their own choice. Moreover, unless liquidfinancial wealth is too small, each household should …