Showing 1 - 10 of 559
When preferences are homothetic, utility can be expressed in terms of current consumption and a variable that captures all information about future opportunities. We use this observation to express the differential equation that characterizes utility as a restriction on the information variable...
Persistent link: https://www.econbiz.de/10010397480
This paper applies a factor model to the study of risk sharing among U.S. states. The factor model makes it possible to disentangle movements in output and consumption due to national, regional, or state-specific business cycles from those due to measurement error. The results of the paper...
Persistent link: https://www.econbiz.de/10010397548
This paper presents tractable and efficient numerical solutions to general equilibrium models of asset prices and consumption where the representative agent has recursive preferences. It provides a discrete-time presentation of the approach of Fisher and Gilles (1999), treating continuous-time...
Persistent link: https://www.econbiz.de/10010397550
be interpreted as either a wage income stream or a stochastic endowment flow. We obtain a complete and original solution …
Persistent link: https://www.econbiz.de/10010397569
to income on IPV for older women. We leverage a Mexican reform that lowered the eligibility age for a non …
Persistent link: https://www.econbiz.de/10015189303
Over the recent years, money has become one of the most compelling topics in modern societies. Consequently, financial literacy turns out to be an indispensable ability in today's complex reality. Numerous studies reveal that the level of financial literacy is dependent on the socio-economic...
Persistent link: https://www.econbiz.de/10015192216
education, income) and more. I find little variety and thereby surface a notable regularity in US socio demography: there is a …
Persistent link: https://www.econbiz.de/10015209845
Thirty years after reunification, East and West Germany are still characterized by a considerable difference in satisfaction with democracy (SWD). This paper proposes and tests a model which assumes SWD to be shaped by the interests (economic and cultural) and moral values individuals demand to...
Persistent link: https://www.econbiz.de/10015209904
Using the 2015 introduction of a statutory minimum wage in Germany as a quasi-experiment, I investigate the effects of wage increases on personality. The degree to which each worker's wage is intended to be affected by the reform is used as an instrument for the relative increase in the worker's...
Persistent link: https://www.econbiz.de/10013347613
Household income per capita among the rural Yi, Manchurian ethnic minority groups and the Han majority is studied using … data from the China Household Income Project 2002, 2013 and 2018. The disparity in total per capita income between the Yi … and Han populations narrowed, while the average income among the Manchurian population remained relatively similar to that …
Persistent link: https://www.econbiz.de/10013351758