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House prices, second mortgages and household savings : an empirical investigation for the Netherlands, 1987 - 1994

Rouwendal, Jan; Alessie, Rob - 2002

paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We …) the savings of renters that may be considered as would-beowners. We find a significant effect of home equity on the demand … for second mortgages.Savings of homeowners decrease when house prices accelerate. We find no evidence that inc …

Persistent link: https://www.econbiz.de/10011327548

Business cycle fluctuations and private savings in OECD countries : a panel data analysis

Adema, Yvonne; Pozzi, Lorenzo - 2012

Persistent link: https://www.econbiz.de/10009724306

Macroeconomic disasters and forward-looking consumers : historical evidence and evidence from the Covid-19 pandemic

Pozzi, Lorenzo; Sadaba, Barbara - 2021

Macroeconomic disasters (wars, pandemics, depressions) are characterized by drastic shifts and increased volatility of the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to expectations of future income and consumption growth rates....

Persistent link: https://www.econbiz.de/10012511037

Entrepreneurship and economic transition

Aidis, Ruta - 2003

Identification of the entrepreneur's economic function has engaged economistsfor more than 200 years. In this paper we address the issue of entrepreneurship intwo distinct ways: a) as it has historically developed within the field of economicsand b) as it develops in the transitional context. In...

Persistent link: https://www.econbiz.de/10011333270

Total factor productivity and the Mongolian transition

Chessa, Antonio G.; Schouwstra, Marije C. - 2005

Total Factor Productivity (TFP)is often used on the macro-economic level as an indicator of changes in efficiency of a country. In many transition economies TFP is seen to have been negative the last decade of the plan economy and starts increasing and become positive after a (quite a) few years...

Persistent link: https://www.econbiz.de/10011346474

Identifying reduced-form relations with panel data

Vollebergh, Herman R. J.; Melenberg, Bertrand; … - 2007 - This version: September 13, 2007

The literature that tests for U-shaped relationships using panel data, such as those between pollution and income or inequality and growth, reports widely divergent (parametric and non-parametric) empirical findings. We explain why lack of identification lies at the root of these differences. To...

Persistent link: https://www.econbiz.de/10011372978

Entrepreneurial moral hazard in income insurance

Ejrnæs, Mette; Hochgürtel, Stefan - 2011

We study entrepreneurs’ behavioral responses of effort (moral hazard) to avoid business failure.This is done in the context of an unemployment insurance scheme for self-employed, wherewe estimate how much of the transition probability to unemployment can be causally attributedto being insured....

Persistent link: https://www.econbiz.de/10011376618

Dynamic clustering of multivariate panel data

Lucas, André; Schaumburg, Julia; Schwaab, Bernd - 2020

We propose a dynamic clustering model for studying time-varying group structures in multivariate panel data. The model is dynamic in three ways: First, the cluster means and covariance matrices are time-varying to track gradual changes in cluster characteristics over time. Second, the units of...

Persistent link: https://www.econbiz.de/10012161029

Housing returns and intertemporal substitution in consumption : estimates for industrial economies

Pozzi, Lorenzo - 2022

This paper uses housing returns to estimate the elasticity of intertemporal substitution (EIS) in consumption for fifteen advanced economies over the postwar period 1950 − 2015. As housing is the main asset for the majority of households, returns on housing are better suited to estimate the...

Persistent link: https://www.econbiz.de/10013279905

Advance information and consumption insurance : evidence from panel data

Pedroni, Marcelo; Singh, Swapnil; Stoltenberg, Christian - 2022 - Preliminary, April 15, 2022

We investigate whether US households possess advance information about their future income and what this means for consumption insurance. Based on insights from a theoretical model, we propose a new test to detect advance information, which requires only panel data on consumption and income....

Persistent link: https://www.econbiz.de/10013186823

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