Showing 1 - 10 of 31
On average, young people underestimate whereas old people overestimate their chances to survive into the future. We employ a subjective survival belief model proposed by Ludwig and Zimper (2013), which can replicate these patterns. The model is compared with hyperbolic discounting within a...
Persistent link: https://www.econbiz.de/10010340559
This paper tests how subjects behave in an intertemporal consumption/saving experiment when borrowing is allowed and whether subjects treat debt differently than savings. Two treatments create environments where either saving or borrowing is required for optimal consumption. Since both...
Persistent link: https://www.econbiz.de/10010487750
This paper provides the exact analytical solution for the standard model of endogenous growth when consumers have …-run growth is not necessarily lower under present-biased preferences. In fact, an equivalence result holds. If hyperbolical … equilibrium rate of economic growth is also the same under both discounting methods. In this sense present-bias and the entailed …
Persistent link: https://www.econbiz.de/10010489320
Marriage is one of the most important determinants of economic prosperity, yet most existing theories of inequality ignore the role of the family. This paper documents that the cross-sectional distributions of earnings and wealth display a high degree of concentration, even when disaggregated...
Persistent link: https://www.econbiz.de/10010489954
This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment. This proposition is a fundamental assumption underlying numerous studies on intertemporal choice and has important implications for tax policy. Using nonparametric and panel...
Persistent link: https://www.econbiz.de/10010483254
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Persistent link: https://www.econbiz.de/10011958300
growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … in the World Values Survey, and democracy, all of which are good for growth as reflected in the purchasing power of per …
Persistent link: https://www.econbiz.de/10011966802
We contribute to the role of telecommunications infrastructure on economic growth in three ways. We separately examine … growth. We find that mobile services contribute much more to growth but that the effect diminishes as the provincial economy …
Persistent link: https://www.econbiz.de/10010399528
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