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The How and Why of Household Reactions to Income Shocks
Colarieti, Roberto; Mei, Pierfrancesco; Stantcheva, Stefanie - National Bureau of Economic Research - 2024
This paper studies how and why households adjust their spending, saving, and borrowing in response to transitory income shocks. We leverage new large-scale survey data to first quantitatively assess households' intertemporal marginal propensities to consume (MPCs) and deleverage (MPDs) (the...
Persistent link: https://www.econbiz.de/10014512045
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The Nexus between Long-term Care Insurance, Formal Care, Informal Care, and Bequests : The Case of Japan
Horioka, Charles; Gahramanov, Emin; Tang, Xueli - National Bureau of Economic Research - 2024
The purpose of this paper is to conduct a theoretical and empirical analysis of the nexus between long-term care insurance (LTCI), formal care, informal (family) care, and bequests. In our empirical analysis, we use micro data from the Japan Household Panel Survey on Consumer Preferences and...
Persistent link: https://www.econbiz.de/10014635707
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The Marginal Propensity to Consume in Heterogeneous Agent Models
Kaplan, Greg; Violante, Giovanni L. - National Bureau of Economic Research - 2022
What model features and calibration strategies yield a large average marginal propensity to consume (MPC) in heterogeneous agent models? Through a systematic investigation of models with different preferences, dimensions of ex-ante heterogeneity, income processes and asset structure, we show...
Persistent link: https://www.econbiz.de/10013210041
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Automatic Enrollment with a 12% Default Contribution Rate
Beshears, John; Guo, Ruofei; Laibson, David I.; … - National Bureau of Economic Research - 2023
We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than …
Persistent link: https://www.econbiz.de/10014337834
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Uncertainty or Frictions? A Quantitative Model of Scarce Safe Assets
Ilut, Cosmin L.; Krivenko, Pavel; Schneider, Martin - National Bureau of Economic Research - 2024
characterization of asset premia and precautionary savings effects in steady state …
Persistent link: https://www.econbiz.de/10014512052
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For Better or For Worse : Default Effects and 401(k) Savings Behavior
Choi, James J. - 2001
401(k) participation rates, savings behavior, and asset accumulation. We find that although employees can opt out of the … 401(k) plan, few choose to do so. As a result, automatic enrollment has a dramatic impact on retirement savings behavior …: 401(k) participation rates at all three firms exceed 85%, but participants tend to anchor at a low default savings rate …
Persistent link: https://www.econbiz.de/10012470064
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Cash Holdings and Credit Risk
Acharya, Viral V. - 2011
liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …, suggesting that precautionary savings are central to understanding the effects of cash on credit risk …
Persistent link: https://www.econbiz.de/10012461663
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Patterns of Time Use Among Older People
Ferranna, Maddalena; Sevilla, J. P.; Zucker, Leo; … - National Bureau of Economic Research - 2022
We analyze time use studies to describe how people allocate their time as they age, especially among paid work, unpaid work, leisure, and personal care. We emphasize differences in time allocation between older (i.e., those aged 65+) and younger people; between developed and developing countries;...
Persistent link: https://www.econbiz.de/10013210058
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Expectations Data in Structural Microeconomic Models
Koşar, Gizem; O'Dea, Cormac - National Bureau of Economic Research - 2022
A growing literature uses now widely-available data on beliefs and expectations in the estimation of structural models. In this chapter, we review this literature, with an emphasis on models of individual and household behavior. We first show how expectations data have been used to relax strong...
Persistent link: https://www.econbiz.de/10013210122
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Friends with Benefits : Social Capital and Household Financial Behavior
Cannon, Brad; Hirshleifer, David; Thornton, Joshua - National Bureau of Economic Research - 2024
Using friendship data from Facebook, we study the effects of three aspects of social capital on household financial behavior. We find that the most important measure of social capital in explaining stock market and saving participation is Economic Connectedness, defined as the fraction of one's...
Persistent link: https://www.econbiz.de/10014512040