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Matching and Saving in Continuous Time : Proofs
Bayer, Christian - 2010
a). The paper proves the results on consumption growth, provides an existence proof for optimal consumption and a …
Persistent link: https://www.econbiz.de/10013144211
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Matching and Saving in Continuous Time : Theory
Bayer, Christian - 2010
generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth … distribution of wealth and allow us to describe general equilibrium. An optimal consumption path exists and distributions converge …
Persistent link: https://www.econbiz.de/10013144214
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The Effect of Language on Economic Behavior : Experimental Evidence from Children's Intertemporal Choices
Sutter, Matthias - 2015
According to Chen's (2013) linguistic-savings hypothesis, languages which grammatically separate the future and the …
Persistent link: https://www.econbiz.de/10013013093
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Inter-Temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union
Schnabl, Gunther - 2013
In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...
Persistent link: https://www.econbiz.de/10013094029
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On the Desirability of Taxing Capital Income to Reduce Moral Hazard in Social Insurance
Jacobs, Bas - 2009
This paper analyzes optimal linear taxes on labor income and savings in a standard two-period life-cycle model with …
Persistent link: https://www.econbiz.de/10013155825
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Optimal Monetary Policy When Agents are Learning
Molnar, Krisztina - 2013
We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show that this slight departure from rationality has important implications for policy design. The central bank faces a new intertemporal trade-off, not present under rational...
Persistent link: https://www.econbiz.de/10013094668
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Growth, Expectations, and Tariffs
Honkapohja, Seppo - 2011
region that applies tariffs. Substantial differences in the levels of innovation, consumption, output, and utility can appear …
Persistent link: https://www.econbiz.de/10013125689
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Are Consumers Planning Consumption According to an Euler Equation?
Dräger, Lena - 2017
Evaluating a new survey dataset of German consumers, we test whether individual consumption plans are formed according … to an Euler equation derived from consumption life-cycle models. Estimating several consumption Euler equations, the … results are mostly in line with the theory: We find evidence of consumption smoothing, since individual current and planned …
Persistent link: https://www.econbiz.de/10012964377
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Measuring Time and Risk Preferences : Reliability, Stability, Domain Specificity
Woelbert, Eva - 2013
To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...
Persistent link: https://www.econbiz.de/10013078528
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Investment Policy for Time-Inconsistent Discounters
Harstad, Bård - 2014
savings and decrease investments in the strategic substitutes, for example. To characterize the principal's choices they are … benefits from subsidizing investments in "green" capital (complementary to future savings) and tax investments in substitute …
Persistent link: https://www.econbiz.de/10013060520