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Optimal price indices for targeting inflation under incomplete markets
Anand, Rahul; Prasad, Eswar S. - 2010
In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...
Persistent link: https://www.econbiz.de/10008810538
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Life cycle saving and dissaving revisited across three-tiered income groups : starting hypotheses, refinement through literature review, and ideas for empirical testing
Holzmann, Robert; Ayuso, Mercedes; Alaminos, Estefanía; … - 2019
The lifecycle approach is the workhorse to model saving decisions of individuals. It conjectures individuals preferring a constant consumption stream across their lifecycle saving till retirement and dis-saving thereafter. The reality is often at odd with this assumption giving rise to our...
Persistent link: https://www.econbiz.de/10012120686
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Dynastic home equity
Benetton, Matteo; Kudlyak, Marianna; Mondragon, John - 2022
Using a nationally representative panel of consumer credit records for the US from 1999 to 2021, we document a positive correlation between child and parent homeownership. We propose a new causal mechanism behind this relationship based on parents extracting home equity to help finance their...
Persistent link: https://www.econbiz.de/10013286209
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The intergenerational transmission of housing wealth
Daysal, N. Meltem; Lovenheim, Michael F.; Wasser, David N. - 2023
environment and parental behaviors that are passed on to children and shape their savings behavior in adulthood. …
Persistent link: https://www.econbiz.de/10014338681
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Pension reform : disentangling retirement and savings responses
Lindeboom, Maarten; Montizaan, Raymond - 2018
of workers born in 1950 or later. At the same time, a tax-facilitated savings plan was introduced that substantially … assess the effect of the reform on the savings and retirement expectations and realizations of two virtually identical male … savings to counter the effect of the reform. These workers, who are generally in worse health, have zero substitution rates …
Persistent link: https://www.econbiz.de/10011876086
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Convergence of inequality dimensions in China : income, consumption, and wealth from 1988 to 2018
Wan, Haiyuan; Gustafsson, Björn; Wang, Yingfei - 2024
analysed, and the savings rate links income and consumption, while capital accumulation is the central mechanism linking income …
Persistent link: https://www.econbiz.de/10014454772
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The wealth, health and wellbeing of Ireland's older people before and during the economic crisis
Barrett, Alan; O'Sullivan, Vincent - 2013
The economic crisis of 2008/9 was felt more acutely in Ireland relative to elsewhere and culminated in the international bailout in 2010. Given the economic collapse, Ireland provides an ideal case-study of the link between wealth collapses and movements in variables such as health and...
Persistent link: https://www.econbiz.de/10010228783
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The subjective inflation expectations of households and firms : measurement, determinants, and implications
Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022
Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...
Persistent link: https://www.econbiz.de/10013271201
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House price responses to monetary policy surprises : evidence from the U.S. listings data
Gorea, Denis; Kryvtsov, Oleksiy; Kudlyak, Marianna - 2022
Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response. We exploit information contained in listings for the residential properties for sale in the...
Persistent link: https://www.econbiz.de/10013343329
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Savings for unemployment in good or bad times : options for developing countries
Robalino, David; Vodopivec, Milan; Bodor, Andras - 2009
The paper describes and evaluates unemployment insurance savings accounts (UISAs) - a relatively new and not well … management of short and long term savings (i.e., pension wealth) while avoiding unnecessary administrative costs. The paper … comparison to developed countries. -- Unemployment insurance ; unemployment insurance savings accounts ; unemployment …
Persistent link: https://www.econbiz.de/10003905775