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Mortgage prepayment, race, and monetary policy

Gerardi, Kristopher; Willen, Paul; Zhang, David Hao - 2021

During the period 2005 to 2020, Black borrowers with mortgages insured by Fannie Mae or Freddie Mac paid interest rates that were almost 50 basis points higher than those paid by nonHispanic white borrowers. We show that the main reason is that non-Hispanic white borrowers are much more likely...

Persistent link: https://www.econbiz.de/10012392369

Are the Japanese unique? : evidence from household saving and bequest behavior

Horioka, Charles - 2016

by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that … the Japanese are not a saving-loving people and that their saving behavior is not governed by culture and social norms …, we argue that these findings do not necessarily mean that culture and social norms do not matter. …

Persistent link: https://www.econbiz.de/10011478422

Is the selfish life-cycle model more applicable in Japan and, if so, why? : a literature survey

Horioka, Charles - 2020

The selfish life-cycle model or hypothesis is, together with the dynasty or altruism model, the most widely used theoretical model of household behavior in economics, but does this model apply in the case of a country like Japan, which is said to have closer family ties than other countries? In...

Persistent link: https://www.econbiz.de/10012291218

Leverage, Monopsony, and the Racial Wealth Gap : A Dynamic Model

de Souza White, Joey - 2023

inelastic labor supply, monopsony-employers can use race to infer workers' labor supply elasticity via their househould inter …

Persistent link: https://www.econbiz.de/10014255063

Are Americans and Indians more altruistic than the Japanese and Chinese? : evidence from a new international survey of bequest plans

Horioka, Charles - 2014

This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...

Persistent link: https://www.econbiz.de/10010354604

Effects of Cultural Origin on Entrepreneurship

Jonsson, Sara; Ouyang, Qinglin - 2023

This paper investigates impact of cultural origin on entrepreneurship. Using Swedish registry data on second-generation immigrants and risk appetite measures from the Global Preference Survey (GPS), we investigate whether risk preferences in parents’ home countries affect entrepreneurship. We...

Persistent link: https://www.econbiz.de/10014348929

The theory of life-cycle saving and investing

Bodie, Zvi (contributor); Treussard, Jonathan (contributor); … - 2007

How much should a family save for retirement and for the kids’ college education? How much insurance should they buy? How should they allocate their portfolio across different assets? What should a company choose as the default asset allocation for a mandatory retirement saving plan? We...

Persistent link: https://www.econbiz.de/10003713614

Saving on a rainy day, borrowing for a rainy day

Alan, Sule; Crossley, Thomas F.; Low, Hamish - 2012

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...

Persistent link: https://www.econbiz.de/10009530241

Is risk good for saving? : message from the general equilibrium model

Balasko, Yves; Kawamura, Enrique - 2013

Popular press and some practitioners have warned against threats that buying risky assets pose on agents saving for retirement, children education and other uses. This paper shows that in a standard two-period general equilibrium model where some savers have no risk-sharing motives, there exists...

Persistent link: https://www.econbiz.de/10009783701

Intra-household allocation of non-mandatory retirement savings

Metzger, Christoph - 2016

Traditionally, households have been seen as acting as a single unit when it comes to savings. Although this might be correct for some parts of household savings, we question the correctness of the unitary model with respect to non-mandatory retirement savings. To answer this question we analyze...

Persistent link: https://www.econbiz.de/10011434405

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