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Persistent link: https://www.econbiz.de/10012027939
There is strong evidence about a home-court advantage in international portfolioquot; investment. One explanation for the bias is an information asymmetry between domestic andquot; foreign investors about the economic performance of domestic firms. This asymmetry causesquot; two types of...
Persistent link: https://www.econbiz.de/10012774918
countries with insufficiently developed capital markets. This paper analyzes the problem of channeling domestic savings into …
Persistent link: https://www.econbiz.de/10012752887
In this survey, I summarize and evaluate the extant literature concerning taxation and personal saving. I describe the theoretical models that economists have used to depict saving decisions, and I explore the positive and normative implications of these models. The central positive question is...
Persistent link: https://www.econbiz.de/10013323998
We examine six alternative plans which might be discussed in an effort to increase consumer savings through the … personal income tax system in the United States. These plans attempt to affect savings through an increase in the real rate of … return either by direct tax cuts on savings or by indexing tax rates against inflation. The paper presents estimates of …
Persistent link: https://www.econbiz.de/10013322914
Persistent link: https://www.econbiz.de/10009703698
Microdata studies of household saving often find a significant group in the population with virtually no wealth, raising concerns about heterogeneity in motives for saving. In particular, this heterogeneity has been interpreted as evidence against the life-cycle model of saving. This paper...
Persistent link: https://www.econbiz.de/10013118750
response to earnings risk based on Euler equation estimates. To address endogeneity problems, we use Norwegian administrative …
Persistent link: https://www.econbiz.de/10012962717
We estimate the fraction of the wealth of a sample of PSID respondents that is held because some households face greater income uncertainty than others. We first derive an equation characterizing the theoretical relationship between wealth and uncertainty in a buffer-stock model of saving. Next,...
Persistent link: https://www.econbiz.de/10013240630
(and the coefficient of relative risk aversion) from regressions of consumption growth on uncertainty in consumption growth … imply estimates of prudence and risk aversion that are unrealistically low. Using numerical solutions to a fairly standard …
Persistent link: https://www.econbiz.de/10013245738