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Do market-orientated economies with relatively large cross-sectional levels of inequality have higher income mobility and therefore less permanent inequality? To answer this question, we introduce a formal representation of income mobility as an equalizer of permanent income. The proposed...
Persistent link: https://www.econbiz.de/10010817196
Persistent link: https://www.econbiz.de/10010708770
Following Chow (1985 and 2010) and using annual data from 1951 to 2010 for Taiwan this paper estimates a consumption function based on the permanent income hypothesis and an investment function based on the accelerations principle. The data support the permanent income hypothesis Friedman (1957)...
Persistent link: https://www.econbiz.de/10010720771
Our topic is the receipt patterns of low-income support benefits in the form of the guaranteed income supplement (GIS) benefit amongst Canadians who are 65 and older. The GIS regime is the only means-tested public retirement benefit that is targeted to the group of retired individuals and...
Persistent link: https://www.econbiz.de/10011184378
The income security of retired Canadians has become an increasing challenge for Canadian policy makers. There has been a significant decline in the coverage of workplace pensions in the private sector and a dramatic shift in the structuring of private-sector pensions away from defined-benefit...
Persistent link: https://www.econbiz.de/10011184427
Income mobility is often thought to equalize permanent incomes and thereby to improve social welfare. The welfare analysis of mobility often fails, however, to account for the cost of the variability of periodic incomes around permanent incomes. This paper assesses the net welfare benefit of...
Persistent link: https://www.econbiz.de/10009643549
. These results are robust to controlling for other determinants of saving rates, including wealth-to-income ratios, the …
Persistent link: https://www.econbiz.de/10009654146
variable approach on farm-level data. Results indicate that precautionary saving is a powerful determinant of wealth … accumulation among U.S. farm households. Precautionary savings account for 53% of total wealth accumulation in general. Our results … indicate an age-wealth profile that is consistent with the life-cycle hypothesis. The share of precautionary saving in total …
Persistent link: https://www.econbiz.de/10010616590
In this paper I analyzed the convergence between Romanian and Euro Zone`s business cycles using a Switching approach. Considering the evolution of final consumption expenditure as proxy for the business cycles, the underlying study is calibrated on the second key feature of Burns and Mitchell`s...
Persistent link: https://www.econbiz.de/10010626096
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/10010547255