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factors for households and compare these estimates of their patience to their replacement rates-the simple measure often used …
Persistent link: https://www.econbiz.de/10012215428
factors for households and compare these estimates of their patience to their replacement rates-the simple measure often used …
Persistent link: https://www.econbiz.de/10012213993
This paper characterizes the solution to a consumption/savings decision problem in which one of the consumption goods involves transaction costs. It then analyzes how such adjustment costs affect consumers' risk attitudes. Previous studies have suggested that transaction costs, by resulting in...
Persistent link: https://www.econbiz.de/10010729239
China's fast growth is perceived as a major determinant of its savings glut that contributes to global imbalances, but … find that China's growth is positively affected by saving but has a limited effect on saving, that inequality mainly has a … negative impact on growth but has a positive impact on saving, and that inequality is a stronger factor than growth in …
Persistent link: https://www.econbiz.de/10010738018
Persistent link: https://www.econbiz.de/10011576722
Formal dynamic analyses of household portfolio choice in the literature focus on holdings of equity and a risk-free asset or bonds of different maturities, neglecting the interdependence of the decisions to invest in equity, short-term and longterm bonds made by households. Data from the Survey...
Persistent link: https://www.econbiz.de/10012215394
Formal dynamic analyses of household portfolio choice in the literature focus on holdings of equity and a risk-free asset or bonds of different maturities, neglecting the interdependence of the decisions to invest in equity, short-term and longterm bonds made by households. Data from the Survey...
Persistent link: https://www.econbiz.de/10012049362
The preference to receive benefits as early as possible and delay costs as much as possible is natural for people. That means a positive discount rate in the intertemporal choice, which is a common assumption in economics. However, as research in behavioral economics proves, in certain...
Persistent link: https://www.econbiz.de/10012821522
Intertemporal tradeoffs play a key role in many personal decisions and policy questions. We describe models of intertemporal choice, identify empirical regularities in choice, and pose new questions for research. The focus for intertemporal choice research is no longer whether the exponential...
Persistent link: https://www.econbiz.de/10014023383
TSL have an adverse effect on both TFP and output growth. Finally, the effect of WPR and TSL on the business cycle (shock …/output growth and the shock propagation mechanism results to provide strong evidence that Greece and to a lesser extent Spain and …
Persistent link: https://www.econbiz.de/10011986208