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How important is health inequality for lifetime earnings inequality?
Hosseini, Roozbeh; Kopecky, Karen A.; Zhao, Kai - 2021
Using a dynamic panel approach, we provide empirical evidence that negative health shocks reduce earnings. The effect is primarily driven by the participation margin and is concentrated in less educated individuals and those with poor health. We build a dynamic, general equilibrium, life cycle...
Persistent link: https://www.econbiz.de/10012392392
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Household savings decision and income uncertainty
Beznoska, Martin; Ochmann, Richard - 2010
uncertainty on households' consumption-savings decision. Applying a structural demand model to German survey data, we estimate the … uncertainty, an average household increases savings by 4:4%. These effects vary by household composition and social status …. -- Consumption-savings decision ; interest rate elasticity of savings ; income uncertainty …
Persistent link: https://www.econbiz.de/10009261306
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Forward looking behavior and empirical household consumption function
Jang, Insong - 2001
behavior involves such variables as human wealth and income uncertainty which are not directly observable. This paper exploits …
Persistent link: https://www.econbiz.de/10011539196
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Household Savings Decision and Income Uncertainty
Beznoska, Martin - 2010
uncertainty on households' consumption-savings decision. Applying a structural demand model to German survey data, we estimate the … uncertainty, an average household increases savings by 4:4%. These effects vary by household composition and social status …
Persistent link: https://www.econbiz.de/10013138012
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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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Risk and Returns to Education
Brown, Jeffrey R. - 2019
We analyze the returns to education in a life-cycle framework that incorporates risk preferences, earnings volatility (including unemployment), and a progressive income tax and social insurance system. We show that such a framework significantly reduces the measured gains from education relative...
Persistent link: https://www.econbiz.de/10012905494
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Precautionary Saving and Income Uncertainty in Germany - New Evidence from Microdata
Bartzsch, Nikolaus - 2016
Persistent link: https://www.econbiz.de/10012991161
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Precautionary saving and income uncertainty in Germany : new evidence from microdata
Bartzsch, Nikolaus - 2007
could be due to precautionary saving. In this paper, the importance of precautionary saving against income uncertainty is … alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is … about 20%. Compared with net financial wealth, housing wealth is not used as a buyer stock against income uncertainty …
Persistent link: https://www.econbiz.de/10011628826
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Labor income profiles are not heterogeneous : evidence from income growth rates
Hryshko, Dmytro - In: Quantitative economics : QE ; journal of the … 3 (2012) 2, pp. 177-209
Idiosyncratic labor incomes are typically modeled either by stochastic processes with heterogeneous income profiles (HIPs) or restricted income profiles (RIPs). The HIP assumes that individual labor income grows deterministically at an unobserved rate and contains a persistent but stationary...
Persistent link: https://www.econbiz.de/10011756817
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Precautionary Saving and Income Uncertainty in Germany - New Evidence from Microdata
Bartzsch, Nikolaus - 2008
could be due to precautionary saving. In this paper, the importance of precautionary saving against income uncertainty is … alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is … about 20%. Compared with net financial wealth, housing wealth is not used as a buffer stock against income uncertainty …
Persistent link: https://www.econbiz.de/10014220111