Showing 1 - 10 of 8,848
Alternative measures of saving are developed and compared to the traditional NIPA estimates. Various data sources and estimation methodologies all conclude that adjustments for net saving in durables, government capital, capital gains and losses, and revaluations are substantial. For example,...
Persistent link: https://www.econbiz.de/10012763418
This paper develops a perfect foresight general equilibrium simulation model of life cycle savings that may be used to … investigate the potential impact of a wide range of government policies on national savings and economic welfare. The model can …
Persistent link: https://www.econbiz.de/10013221325
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10013222646
The purpose of this paper is to review theoretical analysis and results of empirical research on the effects of taxation on private saving and economic welfare. One basic conclusion of section II is that long-established results of theoretical analysis are often ignored or misunderstood by...
Persistent link: https://www.econbiz.de/10013227233
We analyze a Bewley-Huggett-Aiyagari incomplete-markets model with labor-market frictions. Consumers are subject to idiosyncratic employment shocks against which they cannot insure directly. The labor market has a Diamond-Mortensen-Pissarides structure: firms enter by posting vacancies and match...
Persistent link: https://www.econbiz.de/10013156859
Although there have been several studies of the effect of social security on private saving, there has been no attempt to measure the welfare cost of this distortion. The present paper develops an analytic framework for this evaluation and presents numerical calculations
Persistent link: https://www.econbiz.de/10013245545
This paper focuses on precautionary saving against uncertain longevity and on the annuity insurance aspects of social security within the life-cycle framework. The principal findings are three. First, the evolution of social security is reviewed in response to missing markets for providing...
Persistent link: https://www.econbiz.de/10012751964
We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life-cycle model with flexible labor supply. Our framework allows for wage rate uncertainly, variable labor supply, social security benefits and portfolio choice over safe bonds and risky...
Persistent link: https://www.econbiz.de/10012759350
that the represenative consumer changes savings in response to temporary deviations of income from its stochastic trend …
Persistent link: https://www.econbiz.de/10013225022
greater than that of its partners, its relative incentives to accumulate precautionary savings fall and this results in an …
Persistent link: https://www.econbiz.de/10012760520