This paper investigates the relationship between time preferences and lifetime social and economic behavior. We use a Swedish longitudinal dataset that links information from a large survey on childrens time preferences at age 13 to administrative registers spanning over four decades. Our...

The excessive use of credit cards and increasing consumer borrowing has been a major problem. Laibson (1997) suggests the present-bias problem as one of the driving forces of excessive borrowing. Shefrin and Thaler (1988) suggest that self-control underlies national borrowing/savings rate. We...

This paper investigates the relationship between time preferences and lifetime social and economic behavior. We use a Swedish longitudinal dataset that links information from a large survey on childrens time preferences at age 13 to administrative registers spanning over four decades. Our...

In this paper, I develop a dynamic stochastic model of joint return migration and saving decisions that accounts for uncertainty in future employment and income and estimate this model using a longitudinal dataset on legal immigrants in Germany. The model gives a number of implications about the...

This paper analyzes return migration and asset accumulation in a stochastic dynamic model using a longitudinal dataset on legal immigrants in Germany. Our model gives a number of implications about the level, timing and selection of return migration along with the savings proÞles of immigrants....

Are there generational differences in saving behavior? On the basis of new micro data for household saving in Norway I find that differences between birth cohorts are small and statistically insignificant. In particular, cohort effects are small compared to the strong positive effect of aging on...

Are there generational differences in saving behavior? On the basis of new micro data for household saving in Norway I find that differences between birth cohorts are small and statistically insignificant. In particular, cohort effects are small compared to the strong positive effect of aging on...

The Australian government provides benefits to high income older people, which are intended to induce saving for retirement. It has not been established whether this unusual policy is effective. Using an illustrative two-period model, it is shown that these benefits may induce some people to...

A phenomenon of the last twenty years is the growth of ‘very long hours’ of work, especially amongst high-skilled labour. This is an unexpected reversal of a long trend in the opposite direction. This paper criticises the Beckerian analysis of labour-leisure choice. It argues that the more...