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Growth and Risk: Methodology and Micro Evidence
Elbers, Chris; Gunning, Jan Willem; Kinsey, Bill - 2003
There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...
Persistent link: https://www.econbiz.de/10010324821
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Growth and risk : methodology and micro evidence
Elbers, Chris; Gunning, Jan Willem; Kinsey, Bill H. - 2006 - Rev.
There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...
Persistent link: https://www.econbiz.de/10011334326
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Growth and Risk : Methodology and Micro Evidence
Elbers, Chris; Gunning, Jan Willem; Kinsey, Bill H. - 2003
There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...
Persistent link: https://www.econbiz.de/10014075586
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Wage risk and employment risk over the life cycle
Low, Hamish; Meghir, Costas; Pistaferri, Luigi - 2008
heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income … stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. …
Persistent link: https://www.econbiz.de/10010268615
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Unemployment and portfolio choice: Does persistence matter?
Kuzin, Vladimir N.; Bremus, Franziska M. - 2010
We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10010291783
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Wage risk and employment risk over the life cycle
Low, Hamish; Meghir, Costas; Pistaferri, Luigi - 2008
heterogeneity. Our model allows for four main social insurance programmes. In contrast to simpler models that attribute all income … stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. …
Persistent link: https://www.econbiz.de/10010275760
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Unemployment and portfolio choice: Does persistence matter?
Bremus, Franziska M.; Kuzin, Vladimir - 2011
Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming …-term unemployment and find that, in case of short-term unemployment, unemployment insurance offsets the negative impact of unemployment …
Persistent link: https://www.econbiz.de/10010286436
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Precautionary savings, loss aversion, and risk : theory and evidence
Dhami, Sanjit S.; Hajimoladarvish, Narges; Georgalos, … - 2023
We consider a simple, two period, consumption-savings model with future income uncertainty that examines the interplay of savings, precautionary savings, loss aversion, and risk. We provide the relevant theory, followed by empirical tests based on subject-specific choices, and the measurement of...
Persistent link: https://www.econbiz.de/10014315431
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Sharing Risk to Avoid Tragedy : Informal Insurance and Irrigation in Village Economies
Mazur, Karol - 2020
informal insurance and irrigation provision. Firstly, I demonstrate theoretically that if access to the benefits of such public …
Persistent link: https://www.econbiz.de/10012850275
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Growth with Moderation and Uncertainty
Bogetic, Zeljko - 2011
With heightened uncertainties and moderating global and Western European growth and oil prices, and volatile capital flows, Russia is likely to grow by 4.2 percent in 2010, followed by 4.5 percent in 2011 and 3.5 percent in 2012 as domestic demand expands in line with gradual improvements in the...
Persistent link: https://www.econbiz.de/10013127400