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for housing is derived from a life-cycle problem with credit market frictions. Equilibrium house prices adjust to assign …
Persistent link: https://www.econbiz.de/10011211792
German reunification was a large, unexpected shock for East Germans. Exploiting German reunification as a natural experiment, I analyze the validity of the life-cycle consumption model. I derive three stylized features concerning the saving behavior of East versus West Germans after...
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enabled Danish house owners to use housing equity as collateral for consumption loans. We find that the magnitude of the …
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Using life insurance holdings by age, sex, and marital status, we infer how individuals value consumption in different demographic stages. We estimate equivalence scales and bequest motives simultaneously within a fully specified model where agents face US demographics and save and purchase life...
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We quantitatively characterize the optimal mix of progressive income taxes and education subsidies in a model with endogenous human capital formation, borrowing constraints, income risk and incomplete financial markets. In addition to the distortions of labor supply, progressive taxes weaken the...
Persistent link: https://www.econbiz.de/10010659331