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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
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Should unemployment insurance be asset-tested?
Koehne, 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
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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
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A social-psychological reconstruction of Amartya Sen's measures of inequality and social welfare
Stark, Oded; Budziński, Wiktor - 2021
The Gini coefficient features prominently in Amartya Sen's 1973 and 1997 seminal work on income inequality and social …
Persistent link: https://www.econbiz.de/10012648303
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Dynamic labor reallocation with heterogeneous skills and uninsured idiosyncratic risk
Faia, Ester; Kudlyak, Marianna; Shabalina, Ekaterina - 2021
's response to shocks and for the dynamics of inequality. We introduce occupational mobility, through a random choice model with … specialization of the production function. The model matches well the statistics on income and wealth inequality, and the patterns of … task encroaching on income and wealth inequality. We apply the model to the pandemic recession by adding an SIR block with …
Persistent link: https://www.econbiz.de/10012651635
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Capital income risk and the dynamics of the wealth distribution
Hoang Van Khieu; Wälde, Klaus - 2018
In this paper, we develop and numerically solve a model of idiosyncratic labour income and idiosyncratic interest rates to predict the evolution of a wealth distribution over time. Stochastic labour income follows a deterministic growth trend and it fluctuates between a wage and unemployment...
Persistent link: https://www.econbiz.de/10011913697
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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
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The race of man and machine: implications of technology when abilities and demand constraints matter
Gries, Thomas; Naudé, Wim - 2021
consequences of higher income inequality due to AI. Second, we model AI as providing abilities, arguing that "abilities" better … impact of AI on jobs, inequality, wages, labor productivity and long-run GDP growth are explored. …
Persistent link: https://www.econbiz.de/10012517812
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Artificial intelligence, income distribution and economic growth
Gries, Thomas; Naudé, Wim - 2020
The economic impact of Articial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard representative household assumption is rejected, so...
Persistent link: https://www.econbiz.de/10012266990
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Inequality of opportunity and economic growth : a cross-country analysis
Ferreira, Francisco H. G.; Lakner, Christoph; Ana Lugo, … - 2014
Income differences arise from many sources. While some kinds of inequality, caused by effort differences, might be … Surveys, to revisit the question of whether inequality is associated with economic growth and, in particular, to examine … whether inequality of opportunity - driven by circumstances at birth - has a negative effect on subsequent growth. Results are …
Persistent link: https://www.econbiz.de/10010364975