Search Results - subject:"liquidity constraints"

Hajivassiliou, Vassilis A.; Ioannides, Yannis M. - Cowles Foundation for Research in Economics, Yale University - 1995

interaction between liquidity constraints and exogenous constraints on labor supply. …

Persistent link: https://www.econbiz.de/10005093949

Excess Sensitivity and Asymmetries in Consumption: An Empirical Investigation

Garcia, René; Ng, Serena; Lusardi, Annamaria - Centre Interuniversitaire de Recherche en Analyse des … - 1995

Most empirical studies on liquidity constraints classify a consumer as being constrained on the basis of a single … individuals to discriminate between excess sensitivity due to liquidity constraints, from that due to myopic behaviour and a … indicator such as the asset to income ratio. In this analysis, we model the probability that a consumer faces liquidity …

Persistent link: https://www.econbiz.de/10005168995

Investment, Q and Liquidity / Investitionen, Q und Liquidität : Evidence for Germany Using Firm Level Balance Sheet Data / Empirische Ergebnisse auf Basis von Unternehmensdaten

Behr, Andreas - In: Jahrbücher für Nationalökonomie und Statistik 225 (2005) 1, pp. 2-21

Summary We analyse the investment behaviour of German firms within the framework of the Q-theory. Because we use anonymous individual firm balance sheet data, no stock market measure of Q is available. The data set contains 1,342 manufacturing firms covering the period 1987 to 1998. Using the...

Persistent link: https://www.econbiz.de/10014609024

Wealth Accumulation and Portfolio Choice with Taxable and Tax-Deferred Accounts

Gomes, Francisco J; Michaelides, Alexander; … - C.E.P.R. Discussion Papers - 2005

We calibrate a life-cycle model with uninsurable labour income risk and borrowing constraints to match wealth accumulation and portfolio allocation profiles of direct and indirect stockholders in both taxable and tax-deferred accounts. Tax-deferred accounts generate an increase in wealth...

Persistent link: https://www.econbiz.de/10005504781

Optimal Life-Cycle Asset Allocation: Understanding the Empirical Evidence

Gomes, Francisco J; Michaelides, Alexander - C.E.P.R. Discussion Papers - 2005

We show that a life cycle model with realistically calibrated uninsurable labour income risk and moderate risk aversion can simultaneously match stock market participation rates and asset allocation decisions conditional on participation. The key ingredients of the model are Epstein-Zin...

Persistent link: https://www.econbiz.de/10005497707

Fiscal policy and private consumption behaviour: The Spanish case

García, Agustín; Ramajo, Julián - In: Empirical Economics 30 (2005) 1, pp. 115-135

In this article we analyse whether the Ricardian equivalence hypothesis is a valid approximation for Spain’s economic reality or whether there exist deviations from that situation which would be more in line with the conventional Keynesian perspective of the effects of debt on private...

Persistent link: https://www.econbiz.de/10005382223

Part-Time Entrepreneurship and Wealth Effects: New Evidence from the Panel Study of Entrepreneurial Dynamics

Petrova, Kameliia - EconWPA - 2005

Why do people become part-time entrepreneurs? Are they credit constrained? Previous studies on entrepreneurship do not deal with part- timers. In contrast, a recent survey on the establishment of new businesses reports that 80 percent of nascent entrepreneurs also hold regular wage jobs. I...

Persistent link: https://www.econbiz.de/10005413242

Heterogeneous Consumers, Demand Regimes, Monetary Policy Efficacy and Determinacy

Bartolomeo, Giovanni Di; Rossi, Lorenza - EconWPA - 2005

The aim of this paper is to investigate both the efficacy and the stability properties of monetary policy rules in presence of heterogeneous consumers. We aim to underline the link between the well- known Taylor Principle and the demand-policy regimes, defined on the basis of the monetary policy...

Persistent link: https://www.econbiz.de/10005076757

Investment, Q und Liquidity, Evidence for Germany Using Firm Level Balance Sheet Data

Behr, Andreas - In: Journal of Economics and Statistics (Jahrbuecher fuer … 225 (2005) 1, pp. 2-21

We analyse the investment behavior of German firms within the framework of the Q-theory. Because we use anonymous individual firm balance sheet data, no stock market measure of Q is available. The data set contains 1,342 manufacturing firms covering the period 1987 to 1998. Using the approach of...

Persistent link: https://www.econbiz.de/10005668441

Relaxing Liquidity Constraints for Start-Ups: A Welfare Analysis Over the Italian Revised Corporate Law

Casagrande, Alberto; Spallone, Marco - In: European Journal of Law and Economics 20 (2005) 3, pp. 339-357

Persistent link: https://www.econbiz.de/10005705141