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Quantifying the Psychological Costs of Unemployment: The Role of Permanent Income

Knabe, Andreas; Rätzel, Steffen - Forschungsbasierte Infrastruktureinrichtung … - 2007

Unemployment causes significant losses in the quality of life. In addition to reducing individual income, it also creates non-pecuniary, psychological costs. We quantify these non-pecuniary losses by using the life satisfaction approach. In contrast to previous studies, we apply Friedman's...

Persistent link: https://www.econbiz.de/10005017392

Poverty and Permanent Income : A Methodology for Cross-Section Data

NAGA, Ramses H. ABUL; BOLZANI, Enrico - Départment d'économétrie et d'économie politique … - 2000

If the set of households which are income poor does not fully overlap with the set of the consumption poor, it could well be that income and consumption expenditure convey different information regarding an unobserved variable on the basis of which families allocate their resources...

Persistent link: https://www.econbiz.de/10005650128

The open economy excess sensitivity hypothesis: Theory and Swedish evidence

Adler, Johan - Nationalekonomiska institutionen, Handelshögskolan - 2003

This paper extends the theory of open economy consumption behavior by applying Flavin's (1993) excess sensitivity hypothesis (ESH) to the current account. The ESH can be interpreted as a generalization of the open economy permanent income hypothesis (PIH) that allows for any degree of...

Persistent link: https://www.econbiz.de/10005651718

Does permanent income determine the vote?

Lind, Jo Thori - Økonomisk institutt, Universitetet i Oslo - 2005

I study to what extent voters are forward looking and how future income affects <p> the voting decision. Particularly, I estimate the effect of both transitory and permanent income on preferences for different parties using a panel data set from the Norwegian Election Study. To construct a proxy...</p>

Persistent link: https://www.econbiz.de/10005652122

Does permanent income determine the vote?

Lind, Jo Thori - Økonomisk institutt, Universitetet i Oslo - 2004

I study to what extent voters are forward looking and how future income affects the voting decision. Particularly, I estimate the effect of both transitory and permanent income on preferences for different parties using a panel data set from the Norwegian Election Study. To construct a proxy for...

Persistent link: https://www.econbiz.de/10005652339

SLOPE SHOCKS AND CONSUMPTION PUZZLES: A SEMI-STRUCTURAL APPROACH

CABALLERO, R.J. - Department of Economics, School of Arts and Sciences - 1989

Persistent link: https://www.econbiz.de/10005687457

Private Sector Consumption Behavior and Non-Keynesian Effects of Fiscal Policy

Bhattacharya, Rina - International Monetary Fund (IMF) - 1999

This paper explores the hypothesis that the propensity to consume out of income is not constant but varies, perhaps in a nonlinear fashion, with fiscal variables. It examines whether there is any empirical evidence to support the hypothesis that households move from non-Ricardian to Ricardian...

Persistent link: https://www.econbiz.de/10005769068

Fundamental Determinants of the Effects of Fiscal Policy

Kumar, Manmohan S.; Botman, Dennis P. J. - International Monetary Fund (IMF) - 2006

We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the...

Persistent link: https://www.econbiz.de/10005769145

The marginal propensity to spend on adult children

Altonji, Joseph; Villanueva, Ernesto - Department of Economics and Business, Universitat … - 2003

the form of inter vivos transfers and bequests. We infer bequests from the stock of wealth late in life. We use mortality … rates and age specific estimates of the response of transfers and wealth to permanent income to compute the expected present … behavior in order to assess the likely importance of intended bequests for the wealth/income relationship. …

Persistent link: https://www.econbiz.de/10005772218

Do the Rich Save More in Canada?

Alan, Sule; Atalay, Kadir; Crossley, Thomas F. - Department of Economics, McMaster University - 2006

This paper is an attempt to answer the long standing question of whether households with higher lifetime income save a larger fraction of their income. The major difficulty in empirically assessing the relationship between lifetime incomes and saving rates is to construct a credible proxy for...

Persistent link: https://www.econbiz.de/10005635304