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Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - 2014
One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low … households. Using household level data on debt accumulation during 2001-2012, we show that low-income households in high …
Persistent link: https://www.econbiz.de/10010333254
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Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D.; Kuersteiner, Guido M. - 2008
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10010270625
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Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation
de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10010277123
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Innocent bystanders? Monetary policy and inequality in the US
Coibion, Olivier; Gorodnichenko, Yuriy; Kueng, Lorenz; … - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10010287628
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Present-biased preferences and credit card borrowing
Meier, Stephan; Sprenger, Charles D. - 2009
Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...
Persistent link: https://www.econbiz.de/10010276781
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Debt portfolios
Hintermaier, Thomas; Koeniger, Winfried - 2011
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized …
Persistent link: https://www.econbiz.de/10010278362
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Indebted and overweight: The link between weight and household debt
Averett, Susan L.; Smith, Julie K. - 2012
There is a substantial correlation between household debt and bodyweight. Theory suggests that a causal relationship … Propensity Score Matching to ascertain if household debt (measured by credit card indebtedness and having trouble paying bills …
Persistent link: https://www.econbiz.de/10010289881
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In-state tuition for undocumented immigrants and its impact on college enrollment, tuition costs, student financial aid, and indebtedness
Amuedo-Dorantes, Catalina; Sparber, Chad - 2012
The 1996 Immigration Reform and Responsibility Act barred states from giving unlawful residents postsecondary education benefits that states do not offer to U.S. citizens. In contrast to this federal law, several states have passed legislation explicitly allowing undocumented immigrants to pay...
Persistent link: https://www.econbiz.de/10010289938
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Time to eat: household production under increasing income inequality
Hamermesh, Daniel S. - 2006
income and time prices affect time and goods inputs into this household-produced commodity. Focusing on these two years …, between which income and earnings inequality increased, allows examining how household production is affected by changing …
Persistent link: https://www.econbiz.de/10010267333
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Mismeasured household size and its implications for the identification of economies of scale
Halliday, Timothy J. - 2008
We consider the possibility that demographic variables are measured with errors which arise because household surveys … measure demographic structures at a point-in-time, whereas household composition evolves throughout the survey period. We … construct and estimate sharp bounds on household size and find that the degree of these measurement errors is non …
Persistent link: https://www.econbiz.de/10010269073