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Buffer-stock saving and households' response to income shocks
Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2016
contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …
Persistent link: https://www.econbiz.de/10011572286
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Aggregate savings when individual income varies
Flodén, Martin (contributor) - 2005 - [Elektronische Ressource]
This paper examines aggregate savings in a general equilibrium model where infinitely lived households face volatile (and possibly uncertain) income paths, hold a risk-free asset, and face a liquidity constraint. I first show that the equilibrium capital stock in an economy without uncertainty,...
Persistent link: https://www.econbiz.de/10002679474
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Annuity Market Imperfection, Retirement and Economic Growth
Heijdra, Ben J. - 2009
We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...
Persistent link: https://www.econbiz.de/10013157843
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Saving Motives over the Life-Cycle
Pashchenko, Svetlana - 2020
A major challenge in the study of saving behavior is how to disentangle different motives for saving. We approach this question in the context of an entire life-cycle model. Specifically, we identify the importance of different saving motives by simultaneously accounting for wealth accumulation...
Persistent link: https://www.econbiz.de/10012835785
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Individual Retirement Accounts, Saving and Labor Supply
Kitao, Sagiri - 2009
This paper revisits the debate on whether the expansion of the tax-favored saving accounts stimulates savings and helps households become more financially secured for retirement. We build a dynamic general equilibrium model of overlapping generations and find that the policy can have a strong...
Persistent link: https://www.econbiz.de/10012718343
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Income shocks and household risk-coping strategies : evidence from rural Vietnam
Wainwright, Fiona; Newman, Carol - 2011
Persistent link: https://www.econbiz.de/10009422165
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Buffer-stock saving and households' response to income shocks
Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2016
contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …
Persistent link: https://www.econbiz.de/10011551036
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Financial Literacy and Precautionary Insurance
Kubitza, Christian - 2020
We study insurance markets with individuals that have limited financial literacy. In our model, complexity of insurance … contracts causes individuals to be uncertain about insurance payouts. As a result, a trade-off between second-order (risk … aversion) and third-order (prudence) risk preferences drives insurance demand. Very prudent individuals desire more insurance …
Persistent link: https://www.econbiz.de/10012849957
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Buffer-stock saving and households' response to income shocks
Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2017
contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …
Persistent link: https://www.econbiz.de/10011631291
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Buffer-stock saving and households' response to income shocks
Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2017
contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … significant insurance beyond that implied by self-insurance. …
Persistent link: https://www.econbiz.de/10011694737