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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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Home ownership and household portfolio choice
Michielsen, Thomas; Mocking, Remco; Veldhuizen, Sander van - 2016
mortgage amount influence the share of liquid assets held in stocks. We apply different econometric methods to take selection … and endogeneity into account. In our preferred specifications both home equity and the household's amount of mortgage debt …
Persistent link: https://www.econbiz.de/10011415276
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Home ownership and monetary policy transmission
Koeniger, Winfried; Ramelet, Marc-Antoine - 2018
We present empirical evidence on the heterogeneity in monetary policy transmission across countries with different home ownership rates. We use household-level data together with shocks to the policy rate identified from high-frequency data. We find that housing tenure reacts more strongly to...
Persistent link: https://www.econbiz.de/10011933761
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The (un)Importance of inheritance
Black, Sandra E.; Devereux, Paul J.; Landaud, Fanny; … - 2022
Transfers from parents - either in the form of gifts or inheritances - have received much attention as a source of inequality. This paper uses a 19-year panel of administrative data for the population of Norway to examine the share of the Total Inflows available to an individual (defined as the...
Persistent link: https://www.econbiz.de/10012815788
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Intra-household insurance and the intergenerational transmission of income risk
Agostinelli, Francesco; Ferraro, Domenico; Qiu, Xincheng; … - 2024
This paper studies the mechanisms and the extent to which parental wage risk passes through to children's skill development. Through a quantitative dynamic labor supply model in which two parents choose whether to work short or long hours or not work at all, time spent with children, and...
Persistent link: https://www.econbiz.de/10014464298
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Sustaining social security
Gonzalez-Eiras, Martín (contributor);  … - 2005
This paper analyzes the sustainability of intergenerational transfers in politico-economic equilibrium. Embedding electoral competition for the votes of old and young households in the standard Diamond (1965) OLG model, we find that intergenerational transfers naturally arise in a Markov perfect...
Persistent link: https://www.econbiz.de/10003112478
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Intergenerational transmission of preferences and parental behaviours
Coda Moscarola, Flavia; Del Boca, Daniela; Paladino, … - 2024
This paper investigates the intergenerational transmission of preferences between parents and their children, examining the transmission of patience, propensity to save, and conscientiousness. We explore the role of specific parental behaviours, such as sharing financial information, in this...
Persistent link: https://www.econbiz.de/10014463574
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The anatomy of the global saving glut
Bauluz, Luis; Novokmet, Filip; Schularick, Moritz - 2022
This paper provides a household-level perspective on the rise of global saving and wealth since the 1980s. We calculate asset-specific saving flows and capital gains across the wealth distribution for the G3 economies – the U.S., Europe, and China. In the past four decades, global saving...
Persistent link: https://www.econbiz.de/10013187481
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Re-examining the decline in the US saving rate : the impact of mortgage equity withdrawal
Caporale, Guglielmo Maria; Costantini, Mauro; Paradiso, … - 2012
In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …
Persistent link: https://www.econbiz.de/10009571747
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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