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The universal basic income has become a widely discussed measure in policy circles around the world. In this review, we cover the evidence relevant to its potential impact in the US, and in developed countries more generally. Many studies find no statistically significant effect of an...
Persistent link: https://www.econbiz.de/10012453377
Take-up of a social benefit is usually defined as receiving a benefit for which an individual or household is eligible …
Persistent link: https://www.econbiz.de/10013334367
This paper discusses the role of annuities in retirement planning. It begins by explaining the basic theory underlying the individual welfare gains available from annuitizing resources in retirement. It then contrasts these findings with the empirical findings that so few consumers behave in a...
Persistent link: https://www.econbiz.de/10012465109
externality problem: with household-level billing, each person enjoys private benefits of consumption but shares the cost with … other household members. If individual usage is imperfectly observed (as is typical for water and electricity) and family …
Persistent link: https://www.econbiz.de/10012453521
-making processes across households (the "why"). The combination of the quantitative estimation of household response dynamics with a … qualitative exploration of the mental models employed during financial decisions provides a more complete view of household … showing significant variability. However, MPDs play a critical role in household financial adjustments and display …
Persistent link: https://www.econbiz.de/10014512045
We build a model of optimal fixed-rate mortgage refinancing with fixed costs and inattention and derive a new sufficient statistic that can be used to measure inattention frictions from simple moments of the rate gap distribution. In the model, borrowers pay attention to rates sporadically so...
Persistent link: https://www.econbiz.de/10014544725
important economic belief: the household's perceived rank in the income distribution. Our survey experiment consists of two … waves. During each wave, all adult members of a household are interviewed separately with no possibility to communicate with … household's income rank. By chance, some members of a household, but not others, receive the information. A year later, we re …
Persistent link: https://www.econbiz.de/10013388869
How quickly does marginal utility fall with increasing consumption? It depends on the dimension along which we consider concavity of the utility function. This paper estimates the distribution of heterogeneous curvature parameters in individuals' utility functions from hypothetical choice data,...
Persistent link: https://www.econbiz.de/10014468277
Between 2007 and 2009, government expenditures increased rapidly across the OECD countries. While economic research on the impact of government purchases has flourished, in the data, about three quarters of the increase in expenditures in the United States (and more in other countries) was in...
Persistent link: https://www.econbiz.de/10012461882
We analyze the impact of the original means-tested Old Age Assistance (OAA) programs on the health of the elderly prior to the first Social Security pension payments. Before 1935 a number of states had enacted their own OAA laws. After 1935 the federal government began offering matching grants...
Persistent link: https://www.econbiz.de/10012463679