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On the (Mis)Use of Wealth as a Proxy for Risk Aversion

Bellemare, Marc F. - 2010

Tests of risk sharing in the contracting literature often rely on wealth as a proxy for risk aversion. The intuition … assumed monotonic in wealth, the effect of a change in wealth on contract choice is clearly identified. We show that tests of … risk sharing relying on wealth as a proxy for risk aversion are identified only insofar as the econometrician is willing to …

Persistent link: https://www.econbiz.de/10013147209

Precaution and risk aversion : decomposing the effect of unemployment benefits on saving

Kolsrud, Jonas - 2013

Reduced form estimations of precautionary saving with respect to labor market risk have hitherto failed to consider that a decrease of say unemployment probability or an increase in unemployment insurance (UI) generosity affects saving not only by reducing the expected variance in earnings but...

Persistent link: https://www.econbiz.de/10009789000

On the shape of risk aversion and asset allocation

Six, Pierre - In: International journal of theoretical and applied finance 17 (2014) 8, pp. 1-27

Persistent link: https://www.econbiz.de/10010498792

Estimating risk preferences in the presence of bifrucated wealth dynamics : can we identify static risk aversion amidst dynamic risk responses?

Lybbert, Travis J.; Just, David; Barrett, Christopher B. - In: European review of agricultural economics : ERAE 40 (2013) 2, pp. 361-377

Persistent link: https://www.econbiz.de/10009734026

Mortality decline, impatience and aggregate wealth accumulation with risk-sensitive preferences

Bommier, Antoine - 2014

Persistent link: https://www.econbiz.de/10010359332

Optimal spending of a wealth fund in the discrete time life cycle model

Aase, Knut K. - 2023

Persistent link: https://www.econbiz.de/10014289190

All you need is trade : on the in(ter)dependence of trade and asset holdings in gravity equations

Kleinert, Jörn; Neugebauer, Katja - 2012

This paper looks at the interrelationship between trade in goods and asset holdings, as brought forward by some contributions to the empirical literature in international economics. These contributions argue that single-equation gravity models suffer from an endogeneity bias, culminating in a...