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Kantian optimization with quasi-hyperbolic discounting
Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2022
We consider a neoclassical growth model with quasi-hyperbolic discounting under Kantian optimization: each temporal self acts in a way that they would like every future self to act. We introduce the notion of a Kantian policy as an outcome of Kantian optimization in a given class of policies. We...
Persistent link: https://www.econbiz.de/10013255890
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Housing prices and the high Chinese saving rate puzzle
Wang, Xin; Wen, Yi - In: China Economic Review 23 (2012) 2, pp. 265-283
China's over 25% aggregate household saving rate is one of the highest in the world. One popular view attributes the high saving rate to fast-rising housing prices in China. However, cross-sectional data do not show a significant relationship between housing prices and household saving rates....
Persistent link: https://www.econbiz.de/10010875340
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Saving Rate Dynamics in the Neoclassical Growth Model – Hyperbolic Discounting and Observational Equivalence
Farzin, Y. Hossein; Wendner, Ronald - Fondazione ENI Enrico Mattei (FEEM) - 2013
The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country’s saving rate exhibits a rising or non-monotonic pattern. In important...
Persistent link: https://www.econbiz.de/10010665512
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Saving Rate Dynamics in the Neoclassical Growth Model — Hyperbolic Discounting and Observational Equivalence
Farzin, Y. Hossein; Wendner, Ronald - Institut für Volkswirtschaftslehre, Social- und … - 2013
The standard neoclassical growth model with Cobb-Douglas production predicts a mono- tonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a countrys saving rate exhibits a rising or non- monotonic pattern. In important...
Persistent link: https://www.econbiz.de/10010632852
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Saving Rate Dynamics in the Neoclassical Growth Model – Hyperbolic Discounting and Observational Equivalence
Farzin, Y. Hossein; Wendner, Ronald - Volkswirtschaftliche Fakultät, … - 2013
The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country’s saving rate exhibits a rising or non- monotonic pattern. In important...
Persistent link: https://www.econbiz.de/10011257961
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Die Einkommensverteilung: Eine wichtige Größe für die Konjunkturprognose
Fichtner, Ferdinand; Junker, Simon; Schwäbe, Carsten - In: DIW Wochenbericht 79 (2012) 22, pp. 3-10
Die Entwicklung des privaten Verbrauchs ist eine entscheidende Größe bei der Erstellung makroökonomischer Prognosen im Rahmen der Volkswirtschaftlichen Gesamtrechnungen. Als erklärende Variable für die Konsumentwicklung spielt damit auch die Ersparnisbildung der Haushalte eine zentrale...
Persistent link: https://www.econbiz.de/10010283724
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Households' savings in China
Cristadoro, Riccardo; Marconi, Daniela - Banca d'Italia - 2011
This paper studies the determinants of Chinese households� saving. Domestic saving in China is the highest in the world in terms of GDP and it is mirrored in a large and persistent current account surplus. First, we show that notwithstanding the rising contribution of government and firms...
Persistent link: https://www.econbiz.de/10009386393
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Die Einkommensverteilung: eine wichtige Größe für die Konjunkturprognose
Fichtner, Ferdinand; Junker, Simon; Schwäbe, Carsten - In: DIW Wochenbericht 79 (2012) 22, pp. 3-10
Die Entwicklung des privaten Verbrauchs ist eine entscheidende Größe bei der Erstellung makroökonomischer Prognosen im Rahmen der Volkswirtschaftlichen Gesamtrechnungen. Als erklärende Variable für die Konsumentwicklung spielt damit auch die Ersparnisbildung der Haushalte eine zentrale...
Persistent link: https://www.econbiz.de/10011128769
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Italian households� saving and wealth during the crisis
Bartiloro, Laura; Rampazzi, Cristiana - Banca d'Italia - 2013
This paper investigates trends in Italian households� saving and wealth in the last twenty years, with a special … Survey on Household Income and Wealth (1991-2010). The crisis has intensified the trends already under way, as confirmed by … people and tenants. Overall inequality in wealth distribution has increased. Poverty indicators based on income and wealth …
Persistent link: https://www.econbiz.de/10011100398
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Agarwal, Sumit; Liu, Chunlin; Souleles, Nicholas S. - 2007
We use a new panel dataset of credit card accounts to analyze how consumers responded to the 2001 federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that on average...
Persistent link: https://www.econbiz.de/10010292101