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Liquidity constraints versus loss aversion in household consumption : a simple reconciliation
Treeck, Till van - 2010
Verschiedene Abweichungen von der Permanenten Einkommenshypothese mit rationalen Erwartungen sind in der Literatur … Arbeit wird anhand eines einheitlichen Datensatzes für die USA zu privaten Konsumausgaben, Einkommen und Vermögen für den … USA bis zum Ausbruch der Finanzkrise im Jahr 2007 interpretiert werden. …
Persistent link: https://www.econbiz.de/10009306633
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Asymmetric income and wealth effects in a non-linear error correction model of US consumer spending
Treeck, Till van - 2008
Verschiedene Abweichungen von der Permanenten Einkommenshypothese mit rationalen Erwartungen sind in der Literatur … Konsumverhaltens behandelt. In der vorliegenden Arbeit wird anhand eines einheitlichen Datensatzes für die USA zu privaten … Jahrzehnten im Trend fallenden privaten Sparquote in den USA interpretiert werden: Zwar können Vermögensrückgänge kurzfristig …
Persistent link: https://www.econbiz.de/10003744543
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Liquidity constraints versus loss aversion in household consumption: a simple reconciliation
Treeck, Till van - Institut für Makroökonomie und Konjunkturforschung … - 2010
Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....
Persistent link: https://www.econbiz.de/10008694097
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Asymmetric income and wealth effects in a non-linear error correction model of US consumer spending
van Treeck, Till - 2008
Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....
Persistent link: https://www.econbiz.de/10010460459
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Asymmetric income and wealth effects in a non-linear error correction model of US consumer spending
Treeck, Till van - Institut für Makroökonomie und Konjunkturforschung … - 2008
Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....
Persistent link: https://www.econbiz.de/10005026915
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Liquidity Constraints, Loss Aversion, and Myopia: Evidence from Central and Eastern European Countries
Rahmanov, Ramiz - William Davidson Institute, University of Michigan - 2014
This paper adopts the asymmetric error correction technique to investigate the dynamics of household consumption in Central and Eastern European (CEE) countries. The asymmetric co-integration testing shows that households in all CEE countries but Bulgaria respond asymmetrically to negative and...
Persistent link: https://www.econbiz.de/10010936538
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Consumption-savings decisions under upward looking comparisons : evidence from Germany, 2002 - 2011
Drechsel-Grau, Moritz; Schmid, Kai D. - 2013
We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household data from the German Socio-Economic Panel, we estimate the causal effect of changes in reference consumption, defined as the consumption level of all households who are perceived...
Persistent link: https://www.econbiz.de/10010190171
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Myopia, liquidity constraints and private consumption : the case of Cote d'Ivoire
Keho, Yaya - In: Cogent economics & finance 7 (2019) 1, pp. 1-10
In this paper, we estimate the behavior of private consumption in Cote d’Ivoire under the permanent income hypothesis using annual data for the period 1970–2016. The first objective is to test the validity of the permanent income hypothesis in Cote d’Ivoire. Our second concern is to...
Persistent link: https://www.econbiz.de/10012023944
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Does the selfish life-cycle model apply in the case of Japan?
Horioka, Charles - 2020
In this paper, we first provide a brief exposition of the simplest version of the selfish life cycle model or hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the literature on household saving behavior in Japan (with...
Persistent link: https://www.econbiz.de/10012195738
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Fixed amount saving and the permanent income hypothesis
Vosen, Simeon - 2012
According to the German SAVE survey, more than 40 percent of households regularly save fixed amounts rather than flexibly adjusting savings to income variations as assumed by the Permanent Income Hypothesis (PIH). Fixed amount saving behaviour could thus imply a challenge to PIH-based standard...
Persistent link: https://www.econbiz.de/10009668279