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Entry costs and stock market participation over the life cycle

Alan, Sule - 2005

Several explanations for the observed limited stock market participation have been offered in the literature. One of the most promising one is the presence of market frictions mostly in the form of fixed entry and/or transaction costs. Empirical studies strongly point to a significant structural...

Persistent link: https://www.econbiz.de/10010293050

An empirical investigation of labor income processes

Guvenen, Fatih - 2007

In this paper we reassess the evidence on labor income risk. There are two leading views on the nature of the income process in the current literature. The .first view, which we call the .Restricted Income Profiles.(RIP) process, holds that individuals are subject to large and very persistent...

Persistent link: https://www.econbiz.de/10010293069

Firm Level Implications of Early Stage Venture Capital Investment - An Empiri cal Investigation

Engel, Dirk; Keilbach, Max - 2005

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and patent applications. With statistical matching procedures we draw an adequate control...

Persistent link: https://www.econbiz.de/10010261512

Why is consumption more log normal than income? Gibrat's law revisited

Battistin, Erich; Blundell, Richard; Lewbel, Arthur - 2007

Significant departures from log normality are observed in income data, in violation of Gibrat’s law. We identify a new empirical regularity, which is that the distribution of consumption expenditures across households is, within cohorts, closer to log normal than the distribution of income. We...

Persistent link: https://www.econbiz.de/10010292940

Consumption inequality and partial insurance

Blundell, Richard W.; Pistaferri, Luigi; Preston, Ian - 2004

This paper describes the transmission of income inequality into consumption inequality and in so doing investigates the degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX cross-sections and distinguishes between permanent...

Persistent link: https://www.econbiz.de/10010292960

Do the Jonesesreally matter? Peer-group versus correlated effects in intemporal consumption choice

Maurer, Jürgen; Meier, André - 2005

Recent theoretical contributions have suggested consumption externalities, or peergroup effects, as a potential explanation for some of the puzzles in macroeconomics and finance. However, the empirical relevance of peer effects for intertemporal consumption choice is a completely open question....

Persistent link: https://www.econbiz.de/10010292999

Errors in survey reports of consumption expenditures

Battistin, Erich - 2003

This paper considers data quality issues for the analysis of consumption inequality exploiting two complementary datasets from the Consumer Expenditure Survey for the United States. The Interview sample follows survey households over four calendar quarters and consists of retrospectively asked...

Persistent link: https://www.econbiz.de/10010293017

Effectiveness of tax incentives to boost (retirement) saving: Theoretical motivation and empirical evidence

Attanasio, Orazio P.; Banks, James; Wakefield, Matthew - 2004

particular savings accounts. We consider empirical evidence from these two countries regarding the extent to which funds in some … specific tax advantaged accounts (IRAs in the US, TESSAs and ISAs in the UK) represent new savings. Our best interpretation of … with reshuffling of existing savings. Continuing improvements in data on individual financial behaviour create scope for …

Persistent link: https://www.econbiz.de/10010293021

Marriage, labour supply and the dynamics of the social safety net

Low, Hamish W.; Meghir, Costas; Pistaferri, Luigi; … - 2018

The 1996 PRWORA reform introduced time limits on the receipt of welfare in the United States. We use variation by state and across demographic groups to provide reduced form evidence showing that such limits led to a fall in welfare claims (partly due to "banking" benefi ts for future use), a...

Persistent link: https://www.econbiz.de/10012028659

The impact of financial education on adolescents' intertemporal choices

Lührmann, Melanie; Serra-Garcia, Marta; Winter, Joachim - 2014

We examine the impact of a large high-school fi nancial education program on the intertemporal choices of adolescents. We randomly assigned the program among a sample of almost 1,000 students and measured their intertemporal choices using an incentivized experiment. While intertemporal choices...

Persistent link: https://www.econbiz.de/10010397772