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Mapping educational disparities in life-cycle consumption

Hougaard Jensen, Svend Erik; Olafsson, Sigurdur P.; … - 2022

This paper uses data taken from the tax returns of all Icelandic taxpayers in 2005-2019, a period that saw large changes in disposable income around the country's financial crisis in 2008, to plot the life-cycle path of consumption and income for different education groups and to estimate the...

Persistent link: https://www.econbiz.de/10013287969

The saving glut of the rich and the rise in household debt

Mian, Atif; Straub, Ludwig; Sufi, Amir - 2020

Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as the global saving glut, and it has not been associated...

Persistent link: https://www.econbiz.de/10012197559

The Hayek pension : an efficient minimum pension to complement the welfare state

Weizsäcker, Jakob von - 2003

ride. Recent literature is undecided to what extent this inefficient savings distortion should be addressed by a compulsory … show that it is Pareto improving to fully eliminate the savings distortion by means of a compulsory pension termed Hayek …

Persistent link: https://www.econbiz.de/10011511049

Progressive tax changes to superannuation in a lifecycle framework

Kudrna, George; Woodland, Alan D. - 2015

This paper provides a quantitative analysis of hypothetical replacements of existing tax arrangements applied to superannuation (Australia.s term for private pensions) with traditional EET and TEE regimes. These taxation regimes exempt pension fund earnings from any taxation and tax either...

Persistent link: https://www.econbiz.de/10011404438

Time preferences over the life cycle and household saving puzzles

Kureishi, Wataru; Paule-Paludkiewicz, Hannah; … - 2021

Most economic models assume that time preferences are stable over time, but the evidence on their long-term stability is lacking. We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data. We provide new evidence that discount rates...

Persistent link: https://www.econbiz.de/10012486383

Uncertainty, imperfect information, and expectation formation over the firm's life cycle

Chen, Cheng; Senga, Tatsuro; Sun, Chang; Zhang, Hongyong - 2020

Using a long-panel dataset of Japanese firms that contains firm-level sales forecasts, we provide evidence on firm-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated forecast errors. However, they make more precise...

Persistent link: https://www.econbiz.de/10012258487

Distributional effects of the wealth tax under a lifetime-dynastic income concept

Halvorsen, Elin; Thoresen, Thor Olav - 2017

Recent books by Thomas Piketty (Piketty, 2014) and Anthony Atkinson (Atkinson, 2015) have brought the annual wealth tax back on the policy agenda. Both authors suggest using the annual wealth tax to supplement the redistributional effects of the income tax, assigning it a role as a...

Persistent link: https://www.econbiz.de/10011717186

Should unemployment insurance be asset-tested

Koehne, Sebastian; Kuhn, Moritz - 2013

We study asset-tested unemployment insurance in an incomplete markets model with moral hazard during job search. Asset testing has two counteracting effects on welfare. On the one hand, it improves consumption insurance by introducing state contingent transfers to agents most in need. On the...

Persistent link: https://www.econbiz.de/10009765509

Buffer-stock saving and households' response to income shocks

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

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

The feasible gains from international risk sharing

Eijffinger, Sylvester C. W.; Wagner, Wolf - 2001

We argue that since there are several impediments to international risk sharing, the welfare gains from full … international risk sharing, which have been the object of analysis in the previous literature, are not suggestive. Instead, we study … the gains from feasible risk sharing and find that they are considerable (0:5% increase inpermanent consumption). Marginal …

Persistent link: https://www.econbiz.de/10011398778

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