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Wealth effects and the consumption of Italian households in the Great Recession

Bottazzi, Renata; Trucchi, Serena; Wakefield, Matthew - 2017 - This version: August 2015

We estimate marginal propensities to consume from wealth shocks for Italian households in the early part of the Great … Recession. Large asset price shocks in 2008 underpin an IV estimator. A euro fall in risky financial wealth resulted in cuts in … of total and nondurable spending to changes in housing wealth are 0.2 to 0.3 cents/euro. Point estimates of the effect of …

Persistent link: https://www.econbiz.de/10011674495

Revisiting, from a Frischian point of view, the relationship between elasticities of intratemporal and intertemporal substitution

Biørn, Erik - 2017

, the wealth elasticity of the marginal utility of wealth, are key concepts. Three cases with additive preferences are …

Persistent link: https://www.econbiz.de/10011636063

Is wealth accumulation a luxury good?

Tokuoka, Kiichi - In: Economics Letters 115 (2012) 3, pp. 523-526

wealth. Its results support the hypothesis that wealth accumulation is a luxury good, by showing that the marginal utility … from wealth declines more slowly than that from consumption. …

Persistent link: https://www.econbiz.de/10010572169

Estimating and testing preferences for consumption, work hours and savings using the PSID, the profit function and the true dynamic budget constraint

Chin, William - EconWPA - 2003

Five waves of the Panel Study of Income Dynamics (PSID), 1985-1989 including both wealth supplements, are used to …

Persistent link: https://www.econbiz.de/10005561778

Saving and wealth holdings of the elderly

Alessie, R.J.M.; Lusardi, A.; Kapteyn, A.J. - Tilburg University, Center for Economic Research - 1995

Persistent link: https://www.econbiz.de/10011090516

Unexploited connections between intra- and inter-temporal allocation

Crossley, Thomas F.; Low, Hamish W. - 2005

This paper shows that a power utility specification of preferences over total expenditure (ie. CRRA preferences) implies that intratemporal demands are in the PIGL/PIGLOG class. This class generates (at most) rank two demand systems and we can test the validity of power utility on cross-section...

Persistent link: https://www.econbiz.de/10010293087

Confronting the Robinson Crusoe paradigm with household-size heterogeneity

Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - 2008

Modern macroeconomics empirically addresses economy-wide incentives behind economic actions by using insights from the way a single representative household would behave. This analytical approach requires that incentives of the poor and the rich are strictly aligned. In empirical analysis a...

Persistent link: https://www.econbiz.de/10010298407

A comparison of saving rates: Micro evidence from seventeen Latin American and Caribbean countries

Gandelman, Néstor - 2015

Using micro data on expenditure and income for 17 Latin American and Caribbean (LAC) countries, this paper presents stylized facts on saving behavior by age, education, income and place of residence. Counterfactual saving rates are computed by imposing the saving behavior, the population...

Persistent link: https://www.econbiz.de/10011314220

Are Americans and Indians more altruistic than the Japanese and Chinese? Evidence from a new international survey of bequest plans

Horioka, Charles Yuj - 2014

This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...

Persistent link: https://www.econbiz.de/10011421495

Heterogeneity in time preference in older households

Bozio, Antoine; Laroque, Guy; O'Dea, Cormac - 2013

This paper suggests a method for estimating the distribution of discount rates using panel data on income and wealth …

Persistent link: https://www.econbiz.de/10010330991