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Richer earnings dynamics, consumption and portfolio choice over the life cycle

Gálvez, Julio; Paz-Pardo, Gonzalo - 2022

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that, in …

Persistent link: https://www.econbiz.de/10014236105

Yaari's Lifecycle Model in the 21st Century : Consumption Under a Stochastic Force of Mortality

Milevsky, Moshe A. - 2011

We extend the life-cycle model (LCM) of consumption over a random-length life-cycle (a.k.a. the Yaari model) to a world in which (i.) the force of mortality obeys a diffusion process as opposed to being deterministic, and (ii.) a consumer can adapt their consumption strategy to new information...

Persistent link: https://www.econbiz.de/10013126512

Chapter 11. Complex Decision Making : The Roles of Cognitive Limitations, Cognitive Decline, and Aging

Keane, M.P.; Thorp, S. - In: Handbook of the economics of population aging : Volume 1, (pp. 661-709). 2016

moderated by cognitive ability, age, etc. We hope that these new models may be useful in designing paternalistic interventions. …

Persistent link: https://www.econbiz.de/10014023472

Richer earnings dynamics, consumption and portfolio choice over the life cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2023

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that …

Persistent link: https://www.econbiz.de/10014278693

Richer Earnings Dynamics, Consumption and Portfolio Choice Over the Life Cycle

Gálvez, Julio; Paz-Pardo, Gonzalo - 2023

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that …

Persistent link: https://www.econbiz.de/10014348942

Fixed and variable longevity annuities in defined contribution plans : optimal retirement portfolios taking social security into account

Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2023

This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits...

Persistent link: https://www.econbiz.de/10013554899

Who is at the Top? Wealth Mobility Over the Life Cycle

Hochguertel, Stefan - 2012

and then started to decrease. Age-wealth probability profiles are consistent with life-cycle motives for wealth …

Persistent link: https://www.econbiz.de/10013111714

The Role of Television in Household Debt: Evidence from the 1950's

Baker, Matthew J.; George, Lisa M. - Department of Economics, Hunter College - 2009

We examine whether advertising increases household debt by studying the initial expansion of television in the 1950’s. Exploiting the idiosyncratic spread of television across markets, we use microdata from the Survey of Consumer Finances to test whether households with early access to...

Persistent link: https://www.econbiz.de/10004987329

Rushing into American Dream? House Prices, Timing of Homeownership, and Adjustment of Consumer Credit

Agarwal, Sumit; Hu, Luojia; Huang, Xing - Federal Reserve Bank of Chicago - 2013

In this paper we use a large panel of individuals from Consumer Credit Panel dataset to study the timing of homeownership as a function of credit constraints and expectations of future house price. Our panel data allows us to track individuals over time and we model the transition probability of...

Persistent link: https://www.econbiz.de/10010739552

Portfolio Allocation over the Life Cycle: Evidence from Swedish Household Data

Andersson, Björn - 2001

asset categories are regressed on age, period, and cohort dummies as well as socio-economic and demographic variables. There … are evident differences in the age profiles for the demand of different assets. The fraction of risky financial assets … follows a hump-shaped age profile, as does the share of total real assets. While the probability of ownership of safe …

Persistent link: https://www.econbiz.de/10010321812