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Predictable Life-Cycle Shocks, Income Risk and Consumption Inequality
Primiceri, Giorgio E. - 2006
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10012733915
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Lifecycle Consumption under Different Income Profiles : Experimental Evidence
Duffy, John - 2018
We report on a series of economic decision-making experiments exploring how individuals make lifecycle consumption and saving plans when they face different income profiles. We find that for every income profile we consider, subjects on average over-consume in the early periods of life and...
Persistent link: https://www.econbiz.de/10012935378
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收入分配、总消费、与相对收入假说：一个文献述评 (Income Distribution, Aggregate Consumption, and Relative Income Hypothesis : A Literature Review)
Tang, Xiang - 2012
consumption theory in the West, in relation to the question of whether and how income distribution affects aggregate consumption …, thereby showing that the relative income hypothesis (RIH) is the only consumption theory that is consistent with the existing … theory per se and in relation to the discussion of whether China's growing income inequality has adversely affected its …
Persistent link: https://www.econbiz.de/10013108889
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Life-Cycle Inequality : Blacks and Whites Differentials in Life Expectancy, Savings, Income, and Consumption
De Giorgi, Giacomo - 2020
Life expectancy for Blacks is about 8 year shorter than for Whites. A shorter life expectancy, in line with the theoretical prediction of a simple model, determines a much lower amount of savings and wealth accumulation and therefore a lower degree of insurance. This, in turn, contributes to...
Persistent link: https://www.econbiz.de/10012826292
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Consumption-savings decisions under upward looking comparisons : evidence from Germany, 2002 - 2011
Drechsel-Grau, Moritz; Schmid, Kai D. - 2013
We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household data from the German Socio-Economic Panel, we estimate the causal effect of changes in reference consumption, defined as the consumption level of all households who are perceived...
Persistent link: https://www.econbiz.de/10010190171
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Did inequality cause the U.S. financial crisis?
Treeck, Till van - 2012
Renaissance der Relativen Einkommenshypothese des privaten Konsums nahelegt …
Persistent link: https://www.econbiz.de/10009616515
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Mapping educational disparities in life-cycle consumption
Hougaard Jensen, Svend Erik; Olafsson, Sigurdur P.; … - 2022
This paper uses data taken from the tax returns of all Icelandic taxpayers in 2005-2019, a period that saw large changes in disposable income around the country's financial crisis in 2008, to plot the life-cycle path of consumption and income for different education groups and to estimate the...
Persistent link: https://www.econbiz.de/10013287969
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Life-cycle inequality: blacks and whites differentials in life expectancy, savings, income, and consumption
De Giorgi, Giacomo; Gambetti, Luca; Naguib, Costanza - 2021
Life expectancy for Blacks is about 8 year shorter than for Whites. A shorter life expectancy, in line with the theoretical prediction of a simple model, determines a much lower amount of savings and wealth accumulation and therefore a lower degree of insurance. This, in turn, contributes to...
Persistent link: https://www.econbiz.de/10012488486
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Life-cycle inequality : the black and white differential
De Giorgi, Giacomo; Gambetti, Luca; Naguib, Costanza - 2023
With 20 years of PSID data, we document persistent racial differentials in life-cycle consumption dynamics. Starting from similar positions in the consumption distribution Blacks end up in lower percentiles than Whites. Education, income, and wealth are three key drivers of these different...
Persistent link: https://www.econbiz.de/10013489420
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Consumption-savings decisions under upward-looking comparisons : conference paper
Drechsel-Grau, Moritz; Schmid, Kai D. - 2014
We demonstrate that upward-looking comparisons induce "keeping up with the richer Joneses"-behavior. Using data from the German Socio-Economic Panel, we estimate the effect of reference consumption, defined as the consumption level of all households who are perceived to be richer, on household...
Persistent link: https://www.econbiz.de/10010491182