Similar Search Results

General Equilibrium and Dynamic Inconsistency

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2022

We study the role of expectations of naive agents in a general equilibrium version of the Ramsey model with quasi-hyperbolic discounting. When agents recognize others’ naivete, as strongly suggested by empirical evidence, they revise consumption paths, correctly anticipating prices in a...

Persistent link: https://www.econbiz.de/10014080053

Is social security behind the collapse of personal saving?

Caliendo, Frank N. - 2009

This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...

Persistent link: https://www.econbiz.de/10010265973

Inherited Wealth and Demographic Aging

Onder, Harun; Pestieau, Pierre - 2016

The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the first attempts to shed light on how demographic aging could shape this role. We show that, in the absence of retirement annuities, or for a given level of annuitization, both...

Persistent link: https://www.econbiz.de/10011522484

Legal institutions, innovation and growth

Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - 2011

change is needed. The rigid system is preferable at early stages of technological development, when (lack of) commitment …

Persistent link: https://www.econbiz.de/10010274865

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

Kalamov, Zarko; Runkel, Marco - 2020

, the strength of temptation and the cost of self-control do not affect the extensive margin. Hence, present …

Persistent link: https://www.econbiz.de/10012208002

Temptation in Vote-Selling: Evidence from a Field Experiment in the Philippines

Hicken, Allen; Leider, Stephen G.; Ravanilla, Nico; … - 2014

-vote-selling intervention in the Philippines. We model selling one's vote as a temptation good: it creates positive utility for the future self … regarding vote-selling to affect utility. Voters who are at least partially sophisticated about their vote-selling temptation … can thus use promises not to vote-sell as a commitment device. An invitation to promise not to vote-sell is taken up by a …

Persistent link: https://www.econbiz.de/10010398524

Carbon Prices for the Next Hundred Years

Gerlagh, Reyer; Liski, Matti - 2014

World income grows fast without verifiable climate-change impacts on the economy. The growth spell can end if climate impacts turn real but this can take decades to learn. We develop a tractable stochastic climate-economy model with a hidden-state impact process to evaluate the contributions of...

Persistent link: https://www.econbiz.de/10010333417

The Effect of Unconventional Fiscal Policy on Consumption Expenditure

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2016

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We exploit a unique natural experiment for an empirical test of the effectiveness of...

Persistent link: https://www.econbiz.de/10011555501

Saving Alberta's Resource Revenues: Role of Intergenerational and Liquidity Funds

van den Bremer, Ton S.; van der Ploeg, Rick - 2016

We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation,...

Persistent link: https://www.econbiz.de/10011555544

Buffer-Stock Saving and Households' Response to Income Shocks

Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2016

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information contained in the joint dynamics of income,...

Persistent link: https://www.econbiz.de/10011555586

1
2
3
4
5
6
7
8
9
10
Next
Last