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We explore empirically whether earnings uncertainty and borrowing constraints deter households from the stock market, consistent with the predictions of theoretical studies of portfolio choice in the presence of uninsurable earnings. Since recent extensions highlight the importance of the...
Persistent link: https://www.econbiz.de/10008473240
We explore empirically whether earnings uncertainty and borrowing constraints deter households from the stockmarket, consistent with the predictions of theoretical studies of portfolio choice in the presence of uninsurable earnings. Recent extensions highlight the importance of the correlation...
Persistent link: https://www.econbiz.de/10010738868
Le motif d'épargne de précaution a été modélisé initialement par Leland (1968), Sandmo (1970) ou Drèze & Modigliani (1972) et renouvelé par Kimball (1993). La quantification de cette prudence des épargnants face à un risque de revenu exogène dans les comportements d'épargne a fait...
Persistent link: https://www.econbiz.de/10010739091
Persistent link: https://www.econbiz.de/10010708931
L’objectif de notre travail est de quantifier le motif de précaution des épargnants français face à des risques portant sur leurs revenus futurs à partir des données de l’enquête Patrimoine 2004 de l’Insee.
Persistent link: https://www.econbiz.de/10008690914
L’objectif de notre travail est de quantifier le motif de précaution des épargnants français face à des risques portant sur leurs revenus futurs à partir des données de l’enquête Patrimoine 2004 de l’Insee.
Persistent link: https://www.econbiz.de/10011073361
We examine whether the "fear" of globalisation can be rationalised by economic theory. To do so, we depart from the standard AD/AS (partial) equilibrium model where the coordinational role of the Auctioneer is substituted by an implementation device based on learning (Guesnerie, 1992). By...
Persistent link: https://www.econbiz.de/10010739089
This paper provides a survey of results concerning "eductive stability" of equilibrium in an abstract 2-period exchange economy. "Eductive stability" is based on the Common Knowledge considerations underlying the work reported in the book "Assessing rational expectations: "eductive" stability in...
Persistent link: https://www.econbiz.de/10005509937
We explore empirically whether earnings uncertainty and borrowing constraints deter households from the stockmarket, consistent with the predictions of theoretical studies of portfolio choice in the presence of uninsurable earnings. Recent extensions highlight the importance of the correlation...
Persistent link: https://www.econbiz.de/10012729869
[spa] ¿Qué se puede deducir de los estudios relativos a las transferencias patrimoniales en Francia? . por Luc Arrondel y André Masson.. . Los motivos y la práctica de transmisión de los franceses constituían hasta hace poco tiempo un ámbito casi inexplorado. Para lograr una visión...
Persistent link: https://www.econbiz.de/10010978155