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Job ladder and wealth dynamics in general equilibrium

Kaas, Leo; Lalé, Etienne; Siassi, Nawid - 2023

This paper develops a macroeconomic model that combines an incomplete-markets overlapping-generations economy with a job ladder featuring sequential wage bargaining, endogenous search effort of employed and non-employed workers, and differences in match quality. The calibrated model offers a...

Persistent link: https://www.econbiz.de/10014443876

Should unemployment insurance be asset-tested?

Köhne, Sebastian; Kuhn, Moritz - 2013

We study asset-tested unemployment insurance in an incomplete markets model with moral hazard during job search. Asset testing has two counteracting effects on welfare. On the one hand, it improves consumption insurance by introducing state contingent transfers to agents most in need. On the...

Persistent link: https://www.econbiz.de/10009766145

Estimating labor-supply elasticities with joint borrowing constraints of couples

Bredemeier, Christian; Gravert, Jan; Jüßen, Falko - 2016

Estimates of Frisch labor-supply elasticities are biased in the presence of borrowing constraints. We show that this estimation bias is less pronounced for secondary than for primary earners. The reason is that, in households with two earners and joint borrowing constraints, wage-rate...

Persistent link: https://www.econbiz.de/10011543948

On the origins of socio-economic inequalities : evidence from twin families

Bingley, Paul; Cappellari, Lorenzo; Tatsiramos, Konstantinos - 2023

We propose a twin family model linking twins with their spouses and children to quantify the relative importance of genetic and environmental factors in explaining the variance of socio-economic outcomes. Using data from the Danish Twins Registry and population registers, we test and relax the...

Persistent link: https://www.econbiz.de/10014394210

Inequality in an OLG economy with heterogeneous cohorts and pension systems

Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …

Persistent link: https://www.econbiz.de/10011876189

Dynastic home equity

Benetton, Matteo; Kudlyak, Marianna; Mondragon, John - 2022

-of-the-envelope calculation suggests that dynastic home equity increases housing wealth inequality among young adults by 20%. …

Persistent link: https://www.econbiz.de/10013286209

The ins and outs of top income mobility

Aaberge, Rolf; Atkinson, Anthony B.; Modalsli, Jørgen - 2013

This paper is concerned with the question of whether top income earners are permanently there or only temporarily receive the highest incomes. How much mobility is there at the top of the income distribution, and how has mobility changed over time? The paper makes both a methodological and an...

Persistent link: https://www.econbiz.de/10010211222

Major streams in the economics of inequality: a qualitative and quantitative analysis of the literature since 1950s

Lima, Pedro Garrido da Costa; Teixeira, Pedro; Silva, … - 2021

Since the late twentieth century there has been a growing interest in academic and political circles on inequality. In … research about Inequality since the 1950s; (ii) the development of a new method of analysis that combines (ii-a) a quantitative …

Persistent link: https://www.econbiz.de/10012649090

Consumption choices and earnings expectations : empirical evidence and structural estimation

Stoltenberg, Christian; Uhlendorff, Arne - 2022

In this paper, we document that households’ consumption expenditures depend on their expected earnings - even after controlling for realized earnings and wealth. To explain this evidence, we develop and structurally estimate a standard-incomplete markets model in which rational households...

Persistent link: https://www.econbiz.de/10013329447

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/10011572286