Showing 1 - 10 of 45,819
This paper uses a heterogeneous-agent overlapping-generations model to examine the fiscal and distributional consequences of introducing a means test in US Social Security. I find that a means test, that is, conditioning benefit payments on a household's earnings or assets, leads to a higher...
Persistent link: https://www.econbiz.de/10014513264
Persistent link: https://www.econbiz.de/10000985647
Persistent link: https://www.econbiz.de/10001370146
Persistent link: https://www.econbiz.de/10010462953
Persistent link: https://www.econbiz.de/10001764118
Persistent link: https://www.econbiz.de/10001766050
Persistent link: https://www.econbiz.de/10001719209
the US over the period 1952-2001. Theoretically, the effect of income risk on consumption changes is decomposed into an … aggregate and into a consumer-specific part. Empirically, aggregate risk is modelled through a GARCH process on aggregate income … that aggregate income risk explains a negligible fraction of the variance of aggregate consumption changes. A more …
Persistent link: https://www.econbiz.de/10011625544
; Collateral ; Income risk ; Bankruptcy …. Furthermore, we establish two quantitative results. Firstly, modest levels of risk aversion are necessary to match observed debt …
Persistent link: https://www.econbiz.de/10003850601
and price of unsecured debt. -- household debt portfolios ; housing ; collateral ; bankruptcy ; commitment ; income risk …
Persistent link: https://www.econbiz.de/10009244090