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We show that volatility of household consumption, after accounting for predictable variation arising from movements in real interest rates, preferences and income shocks, increased between 1970 and 2002. For single parent households, and households headed by nonwhite or poorly educated...
Persistent link: https://www.econbiz.de/10005750750
In this paper we study the implications of random discount rates of future generations for saving behavior and capital holdings in steady-state competitive equilibrium. We examine conditions under which this randomness is sufficient for households other than the most patient to save, thus...
Persistent link: https://www.econbiz.de/10005647287
result is derived without specifying income uncertainty, which can follow any kind of stochastically monotone process, and …
Persistent link: https://www.econbiz.de/10014126338
This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about …
Persistent link: https://www.econbiz.de/10011600679
This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about …
Persistent link: https://www.econbiz.de/10010277847
This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about …
Persistent link: https://www.econbiz.de/10005762210
This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about …
Persistent link: https://www.econbiz.de/10005404351
This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about …
Persistent link: https://www.econbiz.de/10005018741
We examine in this paper the effect of an early resolution of uncertainty on savings. We show that this effect is in … resolution of uncertainty reduces current savings for various decision problem under uncertainty. …
Persistent link: https://www.econbiz.de/10005639379
health care reform in the United States is a potentially important source of households' financial uncertainty. To quantify … the implications of this uncertainty for the real economy, this paper conducts an empirical analysis of the effect of … health care policy uncertainty (HCPU) on two channels of households' economic behavior: consumption and portfolio choice …
Persistent link: https://www.econbiz.de/10012848640