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Time Variation in Lifecycle Consumption and Income

Aksoy, Yunus - 2020

We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption profiles have consistently become flatter: differences in consumption across generations have decreased. Pooling data across different periods to identify lifecycle profiles masks...

Persistent link: https://www.econbiz.de/10012839357

Cross-Country Unemployment Insurance, Transfers, and Trade-Offs in International Risk Sharing

Enders, Zeno; Vespermann, David - 2021

We assess to which degree an international transfer mechanism can enhance consumption risk sharing as well as … analyze the changing dynamics that a EUBS brings about. We find that a EUBS can provide risk sharing by stabilizing relative …-spending shocks. Yet, since this trade-off between allocative efficiency and consumption risk sharing does not exist after certain …

Persistent link: https://www.econbiz.de/10013236196

Yield Curve and Financial Uncertainty : Evidence Based on Us Data

Castelnuovo, Efrem - 2019

How do short and long term interest rates respond to a jump in financial uncertainty? We address this question by conducting a local projections analysis with US monthly data, period: 1962-2018. The state-of-the-art financial uncertainty measure proposed by Ludvigson, Ma, and Ng (2019) is found...

Persistent link: https://www.econbiz.de/10012867014

The Impact of Aggregate Uncertainty on Firm-Level Uncertainty

Easaw, Joshy; Grimme, Christian - 2021

We analyse the extent to which firm-level uncertainty is affected by aggregate uncertainty. Firm-level uncertainty is constructed from a large and monthly panel dataset of manufacturing firms. We find that aggregate uncertainty has a positive and robust impact on firm-level uncertainty. This...

Persistent link: https://www.econbiz.de/10013239562

Non-Linearities and Persistence in US Long-Run Interest Rates

Caporale, Guglielmo Maria; Gil-Alana, Luis A.; … - 2021

-August 2020, the other from the ECB reporting average monthly values over the period January 1900-August 2020. The estimation …

Persistent link: https://www.econbiz.de/10013314848

Regional Heterogeneity and U.S. Presidential Elections

Ahmed, Rashad; Pesaran, M. Hashem - 2021

This paper develops a recursive model of voter turnout and voting outcomes at U.S. county level to investigate the socioeconomic determinants of recent U.S. presidential elections. It is shown that the relationship between many socioeconomic variables and voting outcomes is not uniform across...

Persistent link: https://www.econbiz.de/10013315201

The Impact of the Spatial Population Distribution on Economic Growth : Evidence from the United States

Bürgi, Constantin; Gorgulu, Nisan - 2022

We look at a part of the spatial angle of economic growth. We introduce a new measure Spatial Population Concentration (SPC) that captures the weighted average population surrounding every person within a geographic area. The weights are a function of the distance between the person in question...

Persistent link: https://www.econbiz.de/10014243162

The Effects of Biased Labor Market Expectations on Consumption, Wealth Inequality, and Welfare

Balleer, Almut; Duernecker, Georg; Forstner, Susanne; … - 2021

Idiosyncratic labor risk is a prevalent phenomenon with important implications for individual choices. In labor market … research it is commonly assumed that agents have rational expectations and therefore correctly assess the risk they face in the …

Persistent link: https://www.econbiz.de/10013211110

Revisiting the 'Decentralization Theorem' - On the Role of Externalities

Koethenbuerger, Marko - 2021

The Decentralization Theorem (Oates, 1972) is central to the discussion of fiscal federalism. We revisit the role of consumption spillovers in evaluating the merits of (de)centralization. Unlike the general prediction, a higher degree of spillovers may reduce the difference in utility of...

Persistent link: https://www.econbiz.de/10013316807

Scarcity and Consumption Priorities

Dahan, Momi; Sayag, Doron - 2023

This paper focuses on whether households facing economic scarcity tend to change consumption priorities as measured by the share of spending on necessity goods relative to luxury goods in a large national supermarket chain in Israel for the years 2011–2018. Based on detailed weekly revenue...

Persistent link: https://www.econbiz.de/10014358647

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