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Correlated income shocks and excess smoothness of consumption
Hryshko, Dmytro - In: Journal of economic dynamics & control 48 (2014), pp. 41-62
Persistent link: https://www.econbiz.de/10010485838
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Precautionary Saving and Health Risk : Evidence from Italian Households Using a Time Series of Cross Sections
Atella, Vincenzo; Rosati, Furio C.; Rossi, Maria Christina - 2005
In this paper we analyse the importance of precautionary saving in Italy. In contrast to previous studies, we focus on two contemporaneous sources of uncertainty, income and health expenditures, to explain the presence of precautionary saving. The major changes occurred in public health care...
Persistent link: https://www.econbiz.de/10014061178
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Savings and collective behavioral patterns in Mexico's pension system
Triberti, Giuliana; Massa, Ricardo - In: Análisis económico 37 (2022) 94, pp. 7-21
Persistent link: https://www.econbiz.de/10013257084
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
Persistent link: https://www.econbiz.de/10012204513
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left …-skewness and excess kurtosis, to which we refer as higherorder risk. We estimate our extended income process by GMM for household … show that in a standard incomplete-markets life-cycle model, first, higher-order risk has sizable welfare implications …
Persistent link: https://www.econbiz.de/10012182809
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left …-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household … show that in a standard incomplete-markets life-cycle model, first, higher-order risk has sizable welfare implications …
Persistent link: https://www.econbiz.de/10012215285
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The time-varying volatility of earnings and aggregate precautionary savings
Pozzi, Lorenzo - 2011
Persistent link: https://www.econbiz.de/10009720736
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Household consumption and saving : random walk hypothesis
Nualtaranee, June - 1992
Persistent link: https://www.econbiz.de/10000851919
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Estimating non-stationary common factors : implications for risk sharing
Corona, Francisco; Poncela, Pilar; Ruiz, Esther - In: Computational economics 55 (2020) 1, pp. 37-60
Persistent link: https://www.econbiz.de/10012222591
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Cyclical consumption
Berger, Tino; Pozzi, Lorenzo - 2023
Recessions and expansions are often caused or reinforced by developments in private consumption - the largest component of aggregate demand - which, as a result, varies over the business cycle. As such, an accurate measurement of the cyclical component of consumption and an understanding of its...
Persistent link: https://www.econbiz.de/10014380708