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Job ladder and wealth dynamics in general equilibrium

Kaas, Leo; Lalé, Etienne; Siassi, Nawid - 2023

-finding rates, wages and savings, so that we use the model to examine the role of age and wealth for worker flows and for the …

Persistent link: https://www.econbiz.de/10014444876

Imperfect monitoring of job search : structural estimation and policy design

Cockx, Bart; Dejemeppe, Muriel; Launov, Andrey; Van der … - 2017

We build and estimate a non-stationary structural job search model that incorporates the main stylized features of a typical job search monitoring scheme in unemployment insurance (UI) and acknowledges that search effort and requirements are measured imperfectly. Based on Belgian data,...

Persistent link: https://www.econbiz.de/10011601188

Should unemployment benefits be related to previous earnings?

Heer, Burkhard - 2002

more savings than to supply additional work in order to insure against the loss of employment. …

Persistent link: https://www.econbiz.de/10011410421

Labor taxation in search equilibrium with home production

Holmlund, Bertil - 2001

Conventional models of equilibrium unemployment typically imply that proportional taxes on labor earnings are neutral with respect to unemployment as long as the tax does not affect the replacement rate provided by unemployment insurance, i.e., unemployment benefits relative to after-tax...

Persistent link: https://www.econbiz.de/10011398419

Optimal taxation in search equilibrium with home production

Engström, Per; Holmlund, Bertil; Kolm, Ann-Sofie - 2001

The paper develops a two-sector general equilibrium search model where 'goods' are produced exclusively in the market and 'services' are produced both in the market and within the households. We use the model to examine how unemployment and welfare are affected by labor taxes in general and...

Persistent link: https://www.econbiz.de/10011408425

The distributional effects of peer and aspirational pressure

Angelopulos, Kōnstantinos; Lazarakis, Spyridon; … - 2019

We develop a theoretical framework where the cross-sectional distributions of hours, earnings, wealth and consumption are determined jointly with a set of expenditure targets defining peer and aspirational pressure for members of different social classes. We show existence of a stationary...

Persistent link: https://www.econbiz.de/10012103597

The liquidity channel of fiscal policy

Bayer, Christian; Born, Benjamin; Luetticke, Ralph - 2020

We provide evidence that expansionary fiscal policy lowers the return difference between more and less liquid assets—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice, in which public...

Persistent link: https://www.econbiz.de/10012231567

Shocks, frictions, and inequality in US business cycles

Bayer, Christian; Born, Benjamin; Luetticke, Ralph - 2020

How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...

Persistent link: https://www.econbiz.de/10012162730

Savings externalities and wealth inequality

Angelopulos, Kōnstantinos; Lazarakis, Spyridon; … - 2019

Incomplete markets models imply heterogeneous household savings behaviour which in turn generates pecuniary … in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous … earnings processes of British households with university and non-university educated heads entail savings externalities that …

Persistent link: https://www.econbiz.de/10012001856

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/10011551036

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