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Saving rate dynamics in the neoclassical growth model : hyperbolic discounting and observational equivalence

Farzin, Hossein; Wendner, Ronald - 2013

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country's saving rate exhibits a rising or non-monotonic pattern. In important...

Persistent link: https://www.econbiz.de/10009756310

The time path of the saving rate : hyperbolic discounting and short-term planning

Farzin, Yeganeh Hossein; Wendner, Ronald - 2014

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition paths of most countries' saving rates exhibit a statistically significant hump-shaped...

Persistent link: https://www.econbiz.de/10010373737

Dynamic, incentive-compatible contracting for health services

Levaggi, Rosella; Moretto, Michele; Pertile, Paolo - 2023

This paper aims to characterise a dynamic, incentive-compatible contract for the provision of health services, allowing for both moral hazard and adverse selection. Patients' severity changes over time following a stochastic process and is private information of the provider. We characterise the...

Persistent link: https://www.econbiz.de/10014342117

Debt portfolios

Hintermaier, Thomas; Koeniger, Winfried - 2009

We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by durables whereas unsecured debt can be discharged in bankruptcy procedures. We show that the model matches the main quantitative characteristics of observed wealth and debt...

Persistent link: https://www.econbiz.de/10003850601

A comparison of saving rates : micro evidence from seventeen Latin American and Caribbean countries

Gandelman, Néstor - 2015

Using micro data on expenditure and income for 17 Latin American and Caribbean (LAC) countries, this paper presents stylized facts on saving behavior by age, education, income and place of residence. Counterfactual saving rates are computed by imposing the saving behavior, the population...

Persistent link: https://www.econbiz.de/10011316663

Estimating temptation and commitment over the life-cycle

Kovacs, Agnes; Low, Hamish; Moran, Patrick - 2020

This paper estimates the importance of temptation (Gul and Pesendorfer, 2001) for consumption smoothing and asset … that the utility cost of temptation is one-quarter of the utility beneﬁt of consumption. Further, we show that allowing for … temptation is crucial for correctly estimating the elasticity of intertemporal substitution: estimates of the EIS are …

Persistent link: https://www.econbiz.de/10012253295

Buffer-stock saving and households' response to income shocks

Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2017

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information contained in the joint dynamics of income,...

Persistent link: https://www.econbiz.de/10011694737

The value of constraints on discretionary government policy

Martin, Fernando M. - 2016

. More pre-commitment to government actions is ineffective in curbing inefficiently high public expenditure …

Persistent link: https://www.econbiz.de/10011585839

Chasing informality : evidence from increasing enforcement in large firms in Peru

Bosch Mossi, Mariano; González, Stephanie; Silva- … - 2021

Evasion of labor market regulations in middle income countries is systemic. This is generally known as informality. In Latin America, where less than 50% of workers are registered with social security, this is a permanent phenomenon and encompasses a variety of economic realities ranging from...

Persistent link: https://www.econbiz.de/10012586505

Dynamic inconsistency, commitment, and welfare in strategic settings

Ivanov, Asen - 2023

’s choices with commitment or in the moment are "better". This impasse can be overcome in settings in which dynamically …

Persistent link: https://www.econbiz.de/10014314279

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