Showing 1 - 10 of 4,306
In this paper we analyze the relationship between unemployment and consumption. We study this relationship with panel data on households in five countries: Spain and Italy (the South), and Germany, Britain, and the US (the North). Our empirical results indicate that an increase in the duration...
Persistent link: https://www.econbiz.de/10009781654
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/10011551036
We analyze price dispersion using panel data from a large price comparison site. We use past pricing behavior to … greater price adjustment costs result in greater price dispersion. Although the impact of price adjustment costs on price … dispersion became weaker over time, the causal effect of price adjustment costs on price dispersion is still present at the end …
Persistent link: https://www.econbiz.de/10011973911
We identify and study analytically three key channels that shape how inflation affects wealth inequality: (i) the … traditional wealth (Fisher) channel through which inflation redistributes from lenders to borrowers; (ii) an income channel … through which inflation reduces the real value of sticky wages and benefits; and (iii) a relative consumption channel through …
Persistent link: https://www.econbiz.de/10014444924
It has long been argued that the anticipations of some future event will impact current consumption and well-being in advance of the occurrence of the event itself. This paper introduces this idea of anticipated pleasure into the Ramsey growth model, by assuming that in addition to his own...
Persistent link: https://www.econbiz.de/10010223402
systematic relations with observables point toward well-understood mechanisms from existing theory and should be useful to …
Persistent link: https://www.econbiz.de/10011872933
study how cash in hand influences decisions in a different but very important domain: savings. Savings accounts are a … promising tool for reducing poverty, but the use of savings accounts is often puzzlingly low. Holding on to cash that needs to … be physically deposited into a savings account may increase the psychological costs of saving. This study experimentally …
Persistent link: https://www.econbiz.de/10012039050
In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on … competitive market characterised by uncertainty about the commodity price, if firms can respond to the revelation of demand …
Persistent link: https://www.econbiz.de/10009010185
In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade …. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of … goods will deliver price equalization in capital goods, but cannot reproduce the observed trade flows. -- international …
Persistent link: https://www.econbiz.de/10009700288
We study price formation in the standard model of consumer search for differentiated products but allow for search cost … important but often neglected aspect of the price mechanism. Recognizing the role the equilibrium price plays in consumers …
Persistent link: https://www.econbiz.de/10010383405