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An Empirical Analysis of the Propagation Mechanism of Financial Globalization
Kim, Hee-Sik; Hong, Seung-je - 2021
This paper examines the mechanism of financial globalization and the preconditions needed for its operation, from the aspect of financial development. Using data on financial globalization and financial development from 16 OECD countries during the period of 1988 to 2001, this paper also...
Persistent link: https://www.econbiz.de/10013237717
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Pensions : A Complex Landscape
Swarup, Dr. Amarendra - 2010
, despite this spotlight on pensions, many important facets remain badly understood and need to be discussed in greater detail …. Most observers would agree that societies have not yet reached the end of the reform process and that dealing with pensions … pensions. The general issue under consideration is not new. How to structure the future provision of pensions, taking into …
Persistent link: https://www.econbiz.de/10013144559
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Income risk, precautionary saving, and loss aversion : an empirical test
Ibanez, Marcela; Schneider, Sebastian O. - 2021
This paper empirically examines the behavioral precautionary saving hypothesis by Koszegi and Rabin (2009) stating that uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider the internal margin, i.e., the strength, of loss...
Persistent link: https://www.econbiz.de/10012438025
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Heterogeneity and risk sharing in village economies
Chiappori, Pierre-André; Krislert Samphantharak; … - In: Quantitative economics : QE ; journal of the … 5 (2014) 1, pp. 1-27
We show how to use panel data on household consumption to directly estimate households’ risk preferences. Specifically, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we then test allowing for this heterogeneity. There is...
Persistent link: https://www.econbiz.de/10011757115
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Income risk, precautionary saving, and loss aversion : an empirical test
Ibanez, Marcela; Schneider, Sebastian O. - 2023
This paper empirically examines the behavioral precautionary saving hypothesis that uncertainty about future income triggers an increase in saving because of loss aversion. Guided by the theoretical model of Koszegi and Rabin (2009), we first extend their theoretical analysis to also consider...
Persistent link: https://www.econbiz.de/10014312199
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Risk, return and portfolio allocation under alternative pension arrangements with imperfect financial markets
Miles, David; Černý, Aleš - 2001
importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …
Persistent link: https://www.econbiz.de/10011398101
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Pensions, debt and inflation risk in a monetary union
Adema, Yvonne - 2010
-generations model, where one country has PAYG pensions and the other country has funded pensions. The paper shows that the PAYG country …
Persistent link: https://www.econbiz.de/10011382085
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Optimal redistributive pensions with temptation and costly self-control
Bouchard St-Amant, Pier-André; Garon, Jean-Denis - 2013
mental cost of self-control. This effect partially offsets the forced-saving benefits of public pensions, and call for a more …
Persistent link: https://www.econbiz.de/10009774942
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Savings, child support, pensions and endogenous (and heterogeneous) fertility
Simonovits, András - 2013
decreases with pension contributions and increases with taxes; (ii) the introduction of fertility-dependent pensions may …
Persistent link: https://www.econbiz.de/10010193875
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Effects of the public sector downsizing on social security and public finance
Vogiatzis, Ioannis; Siriopoulos, Costas; Frangos, Nikolaos - In: Spoudai : journal of economics and business 64 (2014) 1, pp. 53-62
This paper presents the results of the actuarial valuation method Projected Unit Credit ("benefits/years of service") in order to assess the effects of the public sector downsizing on real economy and social security in Greece, using a prototype data set. We found a social security loss of about...
Persistent link: https://www.econbiz.de/10010469137