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Early health, risk aversion and stock market participation
Böckerman, Petri; Conlin, Andrew; Svento, Rauli - 2019
To examine the relationship between early health status and financial decisions in adulthood, we link information on birth weight in 1966 from the Northern Finland Birth Cohort to data from the Finnish Central Securities Depository over the period of 1995-2010. We find that persons predisposed...
Persistent link: https://www.econbiz.de/10012006166
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Discounting financial literacy : time preferences and participation in financial education programs
Meier, Stephan (contributor); Sprenger, Charles (contributor) - 2008
Many policy makers and economists argue that financial literacy is key to financial well-being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to...
Persistent link: https://www.econbiz.de/10003719622
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The wealth and asset holdings of US-born and foreign-born housholds : evidence from SIPP data
Cobb-Clark, Deborah A.; Hildebrand, Vincent A. - 2002
SIPP data are used to analyze the wealth of the U.S. foreign-born population. We find that the median wealth level of U.S.-born couples is 2.3 times the median of foreign-born couples, while the median wealth level of U.S.-born singles is three times that of foreign-born singles. Further, there...
Persistent link: https://www.econbiz.de/10011415568
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Reconciling trends in U.S. male earnings volatility : results from survey and administrative data
Moffitt, Robert A.; Bollinger, Christopher R.; Hokayem, … - 2022
There is a large literature on earnings and income volatility in labor economics, household finance, and macroeconomics …. One strand of that literature has studied whether individual earnings volatility has risen or fallen in the U.S. over the … data. Using common specifications, measures of volatility, and other treatments of the data, four of the six data series …
Persistent link: https://www.econbiz.de/10012887281
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Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises
Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013
We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...
Persistent link: https://www.econbiz.de/10010229932
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Wage rigidity and job creation
Häfke, Christian (contributor); Sonntag, Marcus (contributor) - 2008
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …
Persistent link: https://www.econbiz.de/10003759253
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Modelling heterogeneity and dynamics in the volatility of individual wages
Hospido, Laura - 2010
This paper presents a model for the heterogeneity and dynamics of the conditional mean and the conditional variance of standardized individual wages. In particular, a heteroskedastic autoregressive model with multiple individual fixed effects is proposed. The expression for a modified likelihood...
Persistent link: https://www.econbiz.de/10003936729
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The vanishing procyclicality of labor productivity
Galí, Jordi; Rens, Thijs van - 2010
vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real … observed decline in output volatility. -- labor hoarding ; labor market frictions ; wage rigidities ; effort choice …
Persistent link: https://www.econbiz.de/10008779865
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House price volatility and the housing ladder
Banks, James; Blundell, Richard W.; Oldfield, Zoe͏̈; … - 2010
This paper investigates the effects of housing price risk on housing choices over the lifecycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10009006946
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Housing mobility and downsizing at older ages in Britain and the United States
Banks, James; Blundell, Richard W.; Oldfield, Zoe͏̈; … - 2010
This paper investigates the effects of housing price risk on housing choices over the lifecycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10009006985