Showing 1 - 10 of 92
This paper uses stochastic simulations on calibrated models to assess the steady state impact of different pension arrangements in an environment where financial markets are less than perfect. Surprisingly little is known about the optimal split between funded and unfunded systems when there are...
Persistent link: https://www.econbiz.de/10011398101
According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...
Persistent link: https://www.econbiz.de/10010231628
According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...
Persistent link: https://www.econbiz.de/10010489277
We examine the relationship between the prices paid by households and their shopping patterns measured in terms of shopping frequency and the range of stores visited. We use the TNS data which allows us to control for household heterogeneity. The main contribution of the paper is that we find...
Persistent link: https://www.econbiz.de/10010393118
demographics, and discuss the theoretical implications of the structure we uncover. …
Persistent link: https://www.econbiz.de/10011897575
, 19th century weight was higher in states with greater average wealth and population density and lower in states with … greater wealth inequality. …
Persistent link: https://www.econbiz.de/10011392586
How do sudden, large wealth losses affect mental health? Most prior studies of the causal effects of material well … market accumulations may not inform this question if the effect of wealth on health is asymmetric. We use exogenous variation … in the interview dates of the 2008 Health and Retirement Study to assess the impact of large wealth losses on mental …
Persistent link: https://www.econbiz.de/10009748354
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, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011551036
well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … extreme wealth inequality in society. …
Persistent link: https://www.econbiz.de/10012815788
Using new long-run microdata, this paper studies wealth and income trends of college and noncollege households in the … United States since 1956. We document the emergence of a substantial college wealth premium since the 1980s, which is … considerably larger than the college income premium. Over the past four decades, the wealth of American households with a …
Persistent link: https://www.econbiz.de/10012031017