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Tax Changes and Capital Allocation in the 1980s

Hendershott, Patric H. - 1986

The paper begins with presentation of a methodology for computing rental costs of capital under any tax regime.Tax law … inflation on interest rates and the allocation of real capital. The model allocates a fixed private capital stock among various … classes of nonresidential and residential capital, depending upon the rental costs for the capital components, the price …

Persistent link: https://www.econbiz.de/10012477164

Systemic Risk and the Refinancing Ratchet Effect

Khandani, Amir E. - 2009

The confluence of three trends in the U.S. residential housing market---rising home prices, declining interest rates, and near-frictionless refinancing opportunities---led to vastly increased systemic risk in the financial system. Individually, each of these trends is benign, but when they occur...

Persistent link: https://www.econbiz.de/10012463288

Expenditure Visibility and Consumer Behavior : New Evidence

Heffetz, Ori - 2018

Expenditure visibility--the extent to which a household's spending on a consumption category is noticeable to others--is measured in three new surveys, with ~3,000 telephone and online respondents. Visibility shows little change across time (ten years) and survey methods. Four different notions,...

Persistent link: https://www.econbiz.de/10012480813

Life-Cycle Consumption Patterns at Older Ages in the US and the UK : Can Medical Expenditures Explain the Difference?

Banks, James - 2016

ownership and expenses, levels and paths of health status, number of household members, and out-of -pocket medical expenditures …In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in …

Persistent link: https://www.econbiz.de/10012456166

Health and Mortality Delta : Assessing the Welfare Cost of Household Insurance Choice

Koijen, Ralph - 2011

by the ownership of life insurance, annuities including private pensions, and long-term care insurance in the Health and … Retirement Study. For the median household aged 51 to 57, the lifetime welfare cost of market incompleteness and suboptimal …

Persistent link: https://www.econbiz.de/10012461333

Does Home Owning Smooth the Variability of Future Housing Consumption?

Paciorek, Andrew - 2010

We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...

Persistent link: https://www.econbiz.de/10012462126

Requiescat in Pace? The Consequences of High Priced Funerals in South Africa

Case, Anne - 2009

We examine the costs associated with funerals and the effects of funeral spending on household functioning, using data collected in the Agincourt Demographic Surveillance Site in South Africa. We find that large outlays of money at the time of the funeral leave households vulnerable to future...

Persistent link: https://www.econbiz.de/10012463651

Consumer Spending During Unemployment : Positive and Normative Implications

Ganong, Peter - 2019

Using de-identified bank account data, we show that spending drops sharply at the large and predictable decrease in income arising from the exhaustion of unemployment insurance (UI) benefits. We use the high-frequency response to a predictable income decline as a new test to distinguish between...

Persistent link: https://www.econbiz.de/10012479373

A Simple Mapping from MPCs to MPXs

Laibson, David I.; Maxted, Peter; Moll, Benjamin - National Bureau of Economic Research - 2022

Standard consumption models assume a notional consumption flow that does not distinguish between nondurable and durable consumption. Such notional-consumption models generate notional marginal propensities to consume (MPC). By contrast, empirical work and policy discussions often highlight...

Persistent link: https://www.econbiz.de/10012814439

Do Politicians Change Public Attitudes?

Carlsson, Magnus - 2015

A large theoretical and empirical literature explores whether politicians and political parties change their policy positions in response to voters' preferences. This paper asks the opposite question: do political parties affect public attitudes on important policy issues? Problems of reverse...

Persistent link: https://www.econbiz.de/10012457605