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women) can help explain measurable outcomes such as marriage formation, intra-marriage distribution of consumption goods …, savings, labor supply, leisure, type of relationship, divorce, and intermarriage. Predictions are based on Demand and Supply …
Persistent link: https://www.econbiz.de/10011584627
wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During …
Persistent link: https://www.econbiz.de/10010262612
Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...
Persistent link: https://www.econbiz.de/10013351930
wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During …
Persistent link: https://www.econbiz.de/10005566824
income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory …. Consumption is modeled as an age-dependent nonlinear function of assets and the two earnings components. We establish the … nonparametric identification of the nonlinear earnings process and the consumption policy rule. Exploiting the enhanced consumption …
Persistent link: https://www.econbiz.de/10011345402
Earlier literature has investigated the drop in household consumption upon retirement of the head of the household, the … so-called retirement consumption puzzle. Here, we expand on these studies by considering also retirement of the wife … approach to estimate the effect of each partner's retirement on household consumption. We use for the analysis data drawn from …
Persistent link: https://www.econbiz.de/10010329090
house prices on consumption documented in two papers using the same data set for the UK. On the one hand, Campbell and Cocco … impact on consumption across age groups, consistent with the so-called common factor hypothesis. First, we confirm that the … construction, and provide evidence that the functional form (i.e., an Euler equation of consumption vs. a reduced form life …
Persistent link: https://www.econbiz.de/10010329107
terms of both consumption and leisure time. Drawing on household panel data in rural Mexico, I find that migration increases … non-migrants' consumption, but that this consumption gain cannot be explained by labor supply adjustments. Migration …
Persistent link: https://www.econbiz.de/10011584620
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, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011584626
sectors and over time in order to examine how household consumption responds to different types of positive income shocks … (regular tranches versus lump-sum payments). Focusing on single-earner households, we find evidence of consumption smoothing in … accordance with the Permanent-Income Hypothesis, since total and food consumption do not exhibit excess sensitivity to …
Persistent link: https://www.econbiz.de/10011653237