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-called wealth hypothesis. On the other hand, Attanasio, Blow, Hamilton, and Leicester (2009) find that house prices have the same …
Persistent link: https://www.econbiz.de/10013076839
The demographic transition is introduced into the otherwise standard Ramsey model to generate multiple equilibria, poverty traps, and demography-driven cycles. The model is calibrated for global data to explore the demographic conditions under which multiplicity is realized. Three cases arise,...
Persistent link: https://www.econbiz.de/10013130458
In this document, we consider the effects of a land reform on economic and demographic growth by a family-optimization model with sharecropping, endogenous fertility and status seeking. We show that tenant farming is the major obstacle to escaping the Malthusian trap with high fertility and low...
Persistent link: https://www.econbiz.de/10013055912
a common framework. We illustrate this by analyzing the role of income and wealth as dimensions of multidimensional well … the country ranking depending on the measure. While in Germany wealth predominantly contributes to the intensity of …
Persistent link: https://www.econbiz.de/10013120839
This paper revisits the standard model of labor supply under two additional assumptions: consumption requires time and some limited amount of work is enjoyable. Whereas introducing each assumption without the other one does not produce novel insights, combining them together does if the wage...
Persistent link: https://www.econbiz.de/10012963868
attainment independently predict household wealth in the Health and Retirement Study (HRS). This relationship is partly explained … gradient in wealth. We show that individuals with lower genetic scores are more prone to reporting "extreme beliefs" (e … wealth disparities not only through education and higher earnings, but also through their impact on the ability to process …
Persistent link: https://www.econbiz.de/10012962275
that longitudinal data on BMI are needed. We suggest a theory of imitation - where utility depends on relative weight - in …
Persistent link: https://www.econbiz.de/10012767092
focus of the paper is on transitional dynamics under different initial wealth levels. Whether an initially small business … toward the informal sector even though the initial wealth level is high. Lowering taxes on formal activity joined with strict …
Persistent link: https://www.econbiz.de/10012979858
. This paper studies the role of endogenous owner hours in shaping the wealth distribution among entrepreneurs. We introduce … levels and the dispersion of wealth among entrepreneurs. Long owner hours incentivize poor, highly productive individuals to … be owners and help the most productive owners to accumulate large quantities of wealth. On net, owners working long hours …
Persistent link: https://www.econbiz.de/10012858508
We evaluate the effectiveness of a more progressive tax scheme in raising government revenues. We develop a life-cycle economy with heterogeneity and endogenous labor supply. Households face a progressive income tax schedule, mimicking the Federal Income tax, and flat-rate taxes that capture...
Persistent link: https://www.econbiz.de/10013049753