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fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry … expenditure. We find support for these predictions in three field experiments that randomly assign reminders to new savings …
Persistent link: https://www.econbiz.de/10013139968
Only about one-fifth of respondents in the Reuters/University of Michigan survey report that the 2008 tax rebates led them to mostly increase spending, while over half said it would lead them to mostly pay off debt. Of those in the mostly-spend category, the response was swift, with over 80...
Persistent link: https://www.econbiz.de/10013150550
We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life …
Persistent link: https://www.econbiz.de/10012759350
alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing …
Persistent link: https://www.econbiz.de/10013218544
The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon …-cycle effects on consumption and retirement are estimated jointly for 1973 and 1975. There is a weak small effect of a more distant … reducing consumption; goods and leisure are consumed jointly, suggesting their complementarity in household production; and …
Persistent link: https://www.econbiz.de/10013244124
, the model cannot account for the low level of consumption (or high saving) as a proportion of income observed in the data …. An examination of provincial level consumption data suggests that the absence of channels for intranational consumption … risk sharing may be an important reason why the business-cycle model has trouble accounting for Chinese consumption and …
Persistent link: https://www.econbiz.de/10013141319
We estimate how the marginal utility of consumption varies with health. To do so, we develop a simple model in which … the impact of health on the marginal utility of consumption can be estimated from data on permanent income, health, and … health insurance benefits and the optimal level of life-cycle savings …
Persistent link: https://www.econbiz.de/10012759209
providing a safe place to keep money was sufficient to increase health savings, through a mental accounting effect. Adding an … earmarking feature was only helpful when funds were put towards emergencies; earmarking for preventative health reduced savings …Using data from a field experiment in Kenya, we document that providing individuals with simple informal savings …
Persistent link: https://www.econbiz.de/10013122020
authorities, and health commissioners to illuminate the connections between household savings and health improvements …Saving is essential to the health of economies because it provides the wherewithal for investment. In the late … nineteenth century, saving was also essential to the health of urban working-class households. This study brings together …
Persistent link: https://www.econbiz.de/10012955931
life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that …
Persistent link: https://www.econbiz.de/10012757992