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Time-Consistent Individuals, Time-Inconsistent Households

Hertzberg, Andrew - 2016

I present a model of consumption and savings for multi-person households in which members are imperfectly altruistic …

Persistent link: https://www.econbiz.de/10013008538

Richer earnings dynamics, consumption and portfolio choice over the life cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2022

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that, in the context of a structurally estimated life-cycle portfolio choice model, allowing for these rich features of earnings dynamics helps to better understand the limited...

Persistent link: https://www.econbiz.de/10014236105

Richer Earnings Dynamics, Consumption and Portfolio Choice Over the Life Cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2023

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that allowing for these rich features of earnings dynamics, in the context of a structurally estimated life-cycle portfolio choice model, helps to rationalize the limited participation...

Persistent link: https://www.econbiz.de/10014348942

Family status, social security claiming options, and life cycle portfolios

Hubener, Andreas; Maurer, Raimond; Mitchell, Olivia S. - 2014

Social Security rules that determine retirement, spousal, and survivor benefits, along with benefit adjustments according to the age at which these are claimed, open up a complex set of financial options for household decisions. These rules influence optimal household asset allocation,...

Persistent link: https://www.econbiz.de/10010471816

Chapter 11. Complex Decision Making : The Roles of Cognitive Limitations, Cognitive Decline, and Aging

Keane, M.P.; Thorp, S. - In: Handbook of the economics of population aging : Volume 1, (pp. 661-709). 2016

We review the evidence on decision making in complex choice situations—i.e., situations where there are many alternatives and/or where attributes of alternatives are difficult to understand. We focus on choices about health insurance, health care, and retirement planning, all of which are very...

Persistent link: https://www.econbiz.de/10014023472

The Determinants and Long-term Projections of Saving Rates in Developing Asia

Horioka, Charles - 2011

In this paper, we present data on trends over time in domestic saving rates in twelve economies in developing Asia during the 1966-2007 period and analyze the determinants of these trends. We find that domestic saving rates in developing Asia have, in general, been high and rising but that there...

Persistent link: https://www.econbiz.de/10013118932

The determinants and long-term projections of saving rates in developing Asia

Horioka, Charles; Terada Hagiwara, Akiko - 2011 - May 25, 2010; rev. October 27, 2011

Persistent link: https://www.econbiz.de/10009348943

The determinants of household saving in China : a dynamic panel analysis of provincial data

Horioka, Charles (contributor); Wan, Junmin (contributor) - 2006

In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China’s household survey. We find that China’s household saving rate has been high and...

Persistent link: https://www.econbiz.de/10003397467

Why did Japan's household savings rate fall in the 1990s?

Ogawa, Kazuo (contributor) - 2005

This paper investigates empirically why Japan’s household savings rate fell in the 1990s. We constructed an economic …’s household savings rate. Our simulation analysis demonstrated that if the proportion of liquidity-constrained households in the … 1990s had stayed at the level as that of the late 1980s, the household savings rate would have increased by four percent …

Persistent link: https://www.econbiz.de/10002719933

Consumption-savings decisions under upward looking comparisons : evidence from Germany, 2002 - 2011

Drechsel-Grau, Moritz; Schmid, Kai D. - 2013

the consumption level of all households who are perceived to be richer, on household savings and consumption. When …

Persistent link: https://www.econbiz.de/10010190171