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Consumption Smoothing under Labor Market Uncertainty : Do Household Characteristics Impact Saving?
Kroeger, Sarah - 2020
We examine the household consumption response to fluctuations in income and uncertainty, exploiting a large panel dataset that spans the period of the Great Recession. The results show that after controlling for changes in realized income, both household-specific income uncertainty and local...
Persistent link: https://www.econbiz.de/10012847991
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The (in)validity of the Ricardian equivalence theorem : findings from a representative German population survey
Hayo, Bernd; Neumeier, Florian - 2016 - This version: 29 February 2016
In this paper, we utilise data from a German population survey to test the validity of the Ricardian equivalence theorem (RET). In 2013, 2,000 representatively chosen people were asked whether they have altered their consumption and saving behaviour in response to the significant increase in...
Persistent link: https://www.econbiz.de/10011433976
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The (in)validity of the Ricardian equivalence theorem : findings from a representative German population survey
Hayo, Bernd; Neumeier, Florian - 2016
In this paper, we utilise data from a German population survey to test the validity of the Ricardian equivalence theorem (RET). In 2013, 2,000 representatively chosen people were asked whether they have altered their consumption and saving behaviour in response to the significant increase in...
Persistent link: https://www.econbiz.de/10011574144
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Gambling with the family silver : household consumption and saving responses to fiscal uncertainty
Berg, Oddmund - 2019
In the early 2000s, eight Norwegian energy producing municipalities sold up to ten years of future electricity earnings and let two brokers from Terra Securities make investments on their behalf. In the wake of the 2007 credit crash the municipalities lost up to 80 percent of their assets. This...
Persistent link: https://www.econbiz.de/10012052305
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Can Consumers Distinguish Persistent from Transitory Income Shocks?
Druedahl, Jeppe - 2018
We study whether households can distinguish persistent from transitory income shocks, and the implications for consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component of its income process from actual income realizations...
Persistent link: https://www.econbiz.de/10012928282
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Consumption and Voluntary Savings Response to Service Tax
Seal, Jayanta Kumar - 2020
In this paper, we estimate the effect of a tax policy change on households' consumption and retirement savings behavior …, by using a unique panel data of voluntary retirement savings (PPF) and debit card spending transactions. On average, we … find that households reduce their consumption by 14% and increase their PPF savings by 16% in response to an increase in …
Persistent link: https://www.econbiz.de/10012824255
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Life-Cycle Inequality : Blacks and Whites Differentials in Life Expectancy, Savings, Income, and Consumption
De Giorgi, Giacomo - 2020
theoretical prediction of a simple model, determines a much lower amount of savings and wealth accumulation and therefore a lower …
Persistent link: https://www.econbiz.de/10012826292
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Household risk‐sharing channels
Asdrubali, Pierfederico; Tedeschi, Simone; Ventura, Luigi - In: Quantitative economics : QE ; journal of the … 11 (2020) 3, pp. 1109-1142
both 2008-2010 and 2010-2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings …
Persistent link: https://www.econbiz.de/10012316210
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Buffer-stock saving and households' response to income shocks
Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2016
We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information contained in the joint dynamics of income,...
Persistent link: https://www.econbiz.de/10011551036
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Aggregate consumption and wealth in the long run : the impact of financial liberalization
Gardberg, Malin; Pozzi, Lorenzo - 2020
This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth (i.e., the sum of asset wealth and human wealth). We propose a heterogeneous agent framework with incomplete markets where financial liberalization, by signalling a future...
Persistent link: https://www.econbiz.de/10012224274