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Are the poor more impatient than the rich? : experimental evidence on the effect of (lab) wealth on intertemporal preferences
Siebert, Jan - 2020
Poor people have, on average, a higher marginal propensity to consume. One (out of many) possible explanations for this is that poverty affects impatience. This would have important implications for monetary and fiscal policy. While some macroeconomists simply assume lower individual discount...
Persistent link: https://www.econbiz.de/10012206628
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Wealth Discrimination Theory
Curtis Jr, James E - 2015
accumulation of resources that have market value and can be liquidated for present and future consumption. This study proceeds …, such that they have an incentive to accumulate material wealth for inter-temporal household consumption and social …
Persistent link: https://www.econbiz.de/10013038303
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Differences in Wealth, Evidence from Structural Regression Decomposition, 1850-1870
Curtis Jr, James E - 2018
Recent studies have used regression decomposition to analyze recent data and found that over seventy percent of the black-white wealth differences remained unexplained (See, e.g., Gittleman and Wolff 2000; Altonji, Doraszelski and Segal 2000; and Blau and Graham 1990). Their results are limited to the...
Persistent link: https://www.econbiz.de/10014117683
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Permanent-income inequality
Abbott, Brant; Gallipoli, Giovanni - In: Quantitative Economics 13 (2022) 3, pp. 1023-1060
Through certainty equivalent consumption (CE) measures, we show that dispersion of current earnings, expenditures, and … consumption, as well as uncertainty and demographic composition. Rising inequality has offset about 1/4 of the welfare gains from … higher consumption, with most of the losses accruing after 2000. …
Persistent link: https://www.econbiz.de/10014536952
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Permanent-income inequality
Abbott, Brant; Gallipoli, Giovanni - 2019
. We find that consumption expenditures are tightly linked to permanent-income; however, liquidity constraints can lead to …
Persistent link: https://www.econbiz.de/10012431054
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Housing Wealth Isn't Wealth
Buiter, Willem H. - 2011
the fundamental value of the house they own exceeds the present discounted value of their planned future consumption of … used in the paper, there is no pure wealth effect on consumption from a change in house prices if this represents a change … in their fundamental value. There is a pure wealth effect on consumption from a change in house prices if this reflects a …
Persistent link: https://www.econbiz.de/10013132170
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Housing Wealth and Consumption
Iacoviello, Matteo - 2011
Housing wealth is about one half of household net worth, and consumption is a considerable fraction (about two thirds … consumption in the same direction. This observation has led many economists, commentators and policy makers to study how housing … wealth and consumption are linked together. A sizable portion of the comovement between housing wealth and consumption …
Persistent link: https://www.econbiz.de/10013121362
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Housing Wealth Isn't Wealth
Buiter, Willem H. - 2014
fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing …, of the Yaari-Blanchard OLG model used in the paper), there is no pure wealth effect on consumption from a change in house … prices driven by the housing demand of future generations will boost current consumption. There is a pure wealth effect on …
Persistent link: https://www.econbiz.de/10013068876
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Permanent-income inequality
Abbott, Brant; Gallipoli, Giovanni - 2019 - This draft: February 17, 2019
. We find that consumption expenditures are tightly linked to permanent-income; however, liquidity constraints can lead to …
Persistent link: https://www.econbiz.de/10012183332
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An Alternative Nonlinear Perspective on the Consumption, Income and Wealth Relationship
Holmes, Mark J.; Shen, Xin - In: Economics Bulletin 32 (2012) 1, pp. 766-777
We provide new evidence on the relationship between consumption expenditure and key drivers namely, income and wealth …
Persistent link: https://www.econbiz.de/10009651203