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The Long-Run Effects of Neighborhood Change on Incumbent Families

Baum-Snow, Nathaniel - 2019

A number of prominent studies examine the long-run effects of neighborhood attributes on children by leveraging variation in neighborhood exposure through household moves. How-ever, much neighborhood change comes in place rather than through moving. Using an urban economic geography model as a...

Persistent link: https://www.econbiz.de/10012889177

Free Neighborhood Choice Boosts Socially Optimal Outcomes in Stag-Hunt Coordination Problem

Riedl, Arno; Rohde, Ingrid M. T.; Strobel, Martin - 2021

Situations where independent agents need to align their activities to achieve individually and socially beneficial outcomes are abundant, reaching from everyday situations like fixing a time for a meeting to global problems like climate change agreements. Often such situations can be described...

Persistent link: https://www.econbiz.de/10013232410

Present-Focused Preferences and Sin Goods Consumption at the Extensive and Intensive Margins

Kalamov, Zarko - 2020

This paper analyzes sin goods consumption when individuals exhibit present-focused preferences. It considers three types of present focus: present-bias with varying degrees of naiveté, Gul-Pesendorfer preferences, and a dual-self approach. We investigate the incentives to deviate from healthy...

Persistent link: https://www.econbiz.de/10012836009

Monetary Policy Transmission to Consumer Financial Stress and Durable Consumption

Georgarakos, Dimitris - 2019

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...

Persistent link: https://www.econbiz.de/10012866373

Inflation Surprises in a New Keynesian Economy with a True Consumption Function

Tamborini, Roberto - 2023

The resurgence of inflation since the late 2021 is now accompanied by a reversal of prospects of growth, reviving fears of stagflation across the world (IMF 2022, World Bank 2022). In almost all accounts of the mounting stagflation threats a prominent role is played by the fall of households'...

Persistent link: https://www.econbiz.de/10014262559

Property insurance, portfolio selection and their interdependence

Chang, Fwu-Ranq - 2008

This paper studies the interdependence between property insurance and portfolio selection. The insurance premium of property loss is shown to play the role of subsistence consumption in the analysis. Then, "security" becomes a necessity good and an increase in any insurance parameter would make...

Persistent link: https://www.econbiz.de/10010264331

Uncertain bequest needs and long-term Insurance contracts

Fei, Wenan; Fluet, Claude; Schlesinger, Harris - 2008

We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her family, in the event of an untimely death. Ideally,...

Persistent link: https://www.econbiz.de/10010264521

On the arbitrariness of consumption

Whalley, John; Zhang, Shunming - 2009

We discuss a simple model of choices of joint consumption by a working couple who place maintenance of their marriage (relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve the marriage, in the case where preferences of...

Persistent link: https://www.econbiz.de/10010264574

A Theory of Price Adjustment under Loss Aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010398564

Adaptation, anticipation-bias and optimal income taxation

Aronsson, Thomas; Schöb, Ronnie - 2012

Adaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for such anticipation-biases in a framework where consumers...

Persistent link: https://www.econbiz.de/10010283632

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