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A Continuous Labour Supply Model in Microsimulation : A Life-Cycle Modelling Approach with Heterogeneity and Uncertainty Extension

Li, Jinjing - 2011

This paper advances a structural inter-temporal model of labour supply that is able to simulate the dynamics of labour supply in a continuous setting and to circumvent two main drawbacks of most of the existing models. The first limitation is the inability to incorporate individual heterogeneity...

Persistent link: https://www.econbiz.de/10013118517

Safe Savings Rates : A New Approach to Retirement Planning Over the Lifecycle

Pfau, Wade D. - 2011

Focusing on a “safe withdrawal rate” and then deriving a “wealth accumulation target” to achieve by the retirement date may not be the best way to approach retirement planning. Such a formulation isolates the working (accumulation) and retirement (decumulation) phases. When considered...

Persistent link: https://www.econbiz.de/10013123055

Inequality and the Lifecycle

Kaplan, Greg - 2011

I structurally estimate an incomplete markets lifecycle model with endogenous labor supply, using data on the joint distribution of wages, hours and consumption. The model is successful at matching the evolution of both the first and second moments of the data over the lifecycle. The key...

Persistent link: https://www.econbiz.de/10013124270

The Role of Parental Income Over the Life Cycle : A Comparison of Sweden and the UK

Bjorklund, Anders - 2012

Research on intergenerational income mobility has shown stronger persistence between parental and offspring's income in the UK than in Sweden. We use similar data sets for the two countries to explore whether these cross-national differences show up already early in offspring's life in outcomes...

Persistent link: https://www.econbiz.de/10013096153

How to Invest Over the Life-Cycle in the Presence of Background Risk?

Chai, Jingjing - 2012

This paper investigates the impact of health and labor income risk on portfolio choice in a realistically calibrated … life-cycle model. The model shows that health risk reduces the desired exposure to risky assets, consistent with empirical … findings. Moreover, the model's prediction matches empirical evidence, including the labor supply-health-age profile and …

Persistent link: https://www.econbiz.de/10013106715

Post Schooling Human Capital Investments and the Life Cycle Variance of Earnings

Magnac, Thierry - 2013

We propose an original model of human capital investments after leaving school in which individuals differ in their initial human capital obtained at school, their rate of return, their costs of human capital investments and their terminal values of human capital at a fixed date in the future....

Persistent link: https://www.econbiz.de/10013081797

A Life-Cycle Model with Ambiguous Survival Beliefs

Groneck, Max - 2013

On average, "young" people underestimate whereas "old" people overestimate their chances to survive into the future. We adopt a Bayesian learning model of ambiguous survival beliefs which replicates these patterns. The model is embedded within a non-expected utility model of life-cycle...

Persistent link: https://www.econbiz.de/10013092823

Optimal Taxation and Human Capital Policies over the Life Cycle

Stantcheva, Stefanie - 2014

This paper derives optimal income tax and human capital policies in a dynamic life cycle model of labor supply and risky human capital formation. The wage is a function of both stochastic, persistent, and exogenous "ability" and endogenous human capital. Human capital is acquired throughout life...

Persistent link: https://www.econbiz.de/10013064872

Investing Over the Life Cycle with Long-Run Labor Income Risk

Benzoni, Luca - 2009

Many financial advisors and much of the academic literature often argue that young people should place most of their savings in stocks. In contrast, a significant fraction of U.S. households do not hold stocks. Investors typically hold very little in stocks when they are young, progressively...

Persistent link: https://www.econbiz.de/10013155513

Inequality in Personality over the Life Cycle

Gensowski, Miriam - 2020

We describe gender and socioeconomic inequalities in the Big Five personality traits over the life cycle, using a facet-level inventory linked to administrative data. We estimate life-cycle profiles non-parametrically and test for cohort and sampleselection effects. We discuss the economic...

Persistent link: https://www.econbiz.de/10012833576