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Optimal Life-Cycle Investing with Flexible Labor Supply : A Welfare Analysis of Life-Cycle Funds
Gomes, Francisco J. - 2008
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/10012464683
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Evolving Choice Inconsistencies in Choice of Prescription Drug Insurance
Abaluck, Jason - 2013
these choices are made and evolve over time. We find that there is large "foregone savings" from not choosing the lowest …
Persistent link: https://www.econbiz.de/10012459498
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The Welfare Economics of Default Options in 401(k) Plans
Bernheim, B. Douglas - 2011
passive choice, and other 401(k) plan features. Depending on which theory and welfare perspective one adopts, virtually any …
Persistent link: https://www.econbiz.de/10012461070
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National Savings, Economic Welfare, and the Structure of Taxation
Auerbach, Alan J. - 1981
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/10012478386
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Behavioral Public Economics : Welfare and Policy Analysis with Non-Standard Decision-Makers
Bernheim, B. Douglas - 2005
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/10012467161
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The Effect of Savings Accounts on Interpersonal Financial Relationships : Evidence from a Field Experiment in Rural Kenya
Dupas, Pascaline - 2015
The welfare impact of expanding access to bank accounts depends on whether accounts crowd out pre-existing financial relationships, or whether private gains from accounts are shared within social networks. To study the effect of accounts on financial linkages, we provided free bank accounts to a...
Persistent link: https://www.econbiz.de/10012457329
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On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
Hai, Rong - 2013
. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …
Persistent link: https://www.econbiz.de/10012459275
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Global Imbalances and Structural Change in the United States
Kehoe, Timothy J. - 2013
Since the early 1990s, as the United States borrowed heavily from the rest of the world, employment in the U.S. goods-producing sector has fallen. We construct a dynamic general equilibrium model with several mechanisms that could generate declining goods-sector employment: foreign borrowing,...
Persistent link: https://www.econbiz.de/10012459322
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The importance of precautionary motives in explaining individual and aggregate saving
Hubbard, R. Glenn; Skinner, Jonathan; Zeldes, Stephen P. - 1993
Persistent link: https://www.econbiz.de/10000109281
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Savings and the Terms of Trade Under Borrowing Constraints
Agenor, Pierre-Richard - 2000
This paper examines the extent to which permanent terms-of-trade shocks have an asymmetric effect on private savings … in bad states of nature, savings rates will respond asymmetrically to favorable movements in the permanent component of … standard determinants of private savings. The results, based on panel data for non-oil commodity exporters of sub …
Persistent link: https://www.econbiz.de/10012471007