Showing 1 - 10 of 876
Persistent link: https://www.econbiz.de/10012156560
We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare …. We distentangle the direct effect on consumption growth of a currently binding credit constraints from the indirect … effect of a potentially binding credit constraint which generates consumption risk. Our data is focused on job losers. We …
Persistent link: https://www.econbiz.de/10010500185
not clear cut. Contrary to the usual practice of considering the allocation of household income over consumption and …
Persistent link: https://www.econbiz.de/10011506806
consumption across states of nature, one must also consider the assets;́ effects on households;́ ability to smooth consumption … returns correlate negatively with income shocks) even though the assets offer identical opportunities to smooth consumption … be substantial (above 1 percent of certainty-equivalent consumption), the assets we consider can only mitigate a …
Persistent link: https://www.econbiz.de/10008658455
Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...
Persistent link: https://www.econbiz.de/10011334363
general panel date on total consumption from the intertemporal budget constraint. The distribution of consumption levels is … shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then …
Persistent link: https://www.econbiz.de/10009689923
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, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011551036
I show that conventional estimators based on the consumption Euler equation, extensively used in studies of … intertemporal consumption behavior, produce inconsistent estimates of the effect of children on consumption if potentially binding … children on consumption using the Panel Study of Income Dynamics (PSID) for the US and high quality Danish administrative …
Persistent link: https://www.econbiz.de/10013045082
consumption across states of nature, one must also consider the assets' effects on households' ability to smooth consumption over … returns correlate negatively with income shocks) even though the assets offer identical opportunities to smooth consumption … be substantial (above 1 percent of certainty-equivalent consumption), the assets we consider can only mitigate a …
Persistent link: https://www.econbiz.de/10013147090
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, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011631291