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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, consumption and wealth to quantify the degree of insurance against income risk. The …

Persistent link: https://www.econbiz.de/10011572286

Transitory income changes and consumption smoothing: evidence from Mexico

Angelucci, Manuela; Chiapa, Carlos; Prina, Silvia; … - 2021

We study how 3,534 beneficiaries of PROSPERA, Mexico's cash transfer program, smooth food consumption around the transfer payday, an anticipated and transitory income shock. We find that food consumption and food security do not change around the transfer payday, including for recipients with...

Persistent link: https://www.econbiz.de/10012550048

Debt portfolios

Hintermaier, Thomas; Koeniger, Winfried - 2011

calibrated model matches important quantitative characteristics of observed wealth and debt portfolios for prime-age consumers in …

Persistent link: https://www.econbiz.de/10009244090

Income uncertainty and household savings in China

Chamon, Marcos; Liu, Kai; Prasad, Eswar S. - 2010

China's household saving rate has increased markedly since the mid-1990s and the agesaving profile has become U-shaped. Using a panel of urban Chinese households covering 1989-2006, we document a sharp increase in income uncertainty. While the permanent variance of household income was stable,...

Persistent link: https://www.econbiz.de/10009304386

"Should I pay for you or for myself"? : the optimal level and composition of retirement benefit systems

Praag, Bernard M. S. van; Cardoso, Pedro - 2001

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...

Persistent link: https://www.econbiz.de/10011339670

Household debt and crises of confidence

Hintermaier, Thomas; Koeniger, Winfried - 2015

We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence. The house price feeds back on itself by contributing to a liquidity effect, which operates through the value of housing in a collateral constraint. Over a specific range of debt...

Persistent link: https://www.econbiz.de/10011347156

Political uncertainty and household savings

Aaberge, Rolf; Liu, Kai; Zhu, Yu - 2014

Despite macroeconomic evidence pointing to a negative aggregate consumption response due to political uncertainty, few papers have used microeconomic panel data to analyze how households adjust their consumption after an uncertainty shock. We study household savings and expenditure adjustment...

Persistent link: https://www.econbiz.de/10010457397

The disappearing gender gap : the impact of divorce, wages, and preferences on education choices and women’s work

Fernández, Raquel; Wong, Joyce Cheng - 2011

Women born in 1935 went to college significantly less than their male counterparts and married women's labor force participation (LFP) averaged 40% between the ages of thirty and forty. The cohort born twenty years later behaved very differently. The education gender gap was eliminated and...

Persistent link: https://www.econbiz.de/10009516927

Risk and saving in two-person households : more scope for precautionary saving

Apps, Patricia; Andrienko, Yuri; Rees, Ray - 2012

The existing literature suggests that when the saving decision of two-earner households under risk is analysed, standard results on the existence of precautionary saving no longer apply: precautionary saving is obtained if and only if very stringent conditions hold. This paper shows that when...

Persistent link: https://www.econbiz.de/10009613678

Income inequality and saving

Alvarez-Cuadrado, Francisco; Attar, Mayssun el - 2012

Over the last three decades, average income for the bottom half of the US distribution increased by 8% while their average saving rate decreased by eight percentage points. Over the same period the US experienced a substantial increase in inequality and a continuous decrease in the aggregate...

Persistent link: https://www.econbiz.de/10009681548

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