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Disentangling financial constraints, precautionary savings, and myopia : household behavior surrounding federal tax returns

Baugh, Brian; Ben-David, Itzhak; Park, Hoonsuk - 2013

Analyzing account-level data from an account aggregator, we find that households increase consumption when they receive (expected) tax refunds, as if they face liquidity constraints. However, these same households smooth consumption when making payments in other years, primarily by transferring...

Persistent link: https://www.econbiz.de/10010227720

Fixed amount saving and the permanent income hypothesis

Vosen, Simeon - 2012

According to the German SAVE survey, more than 40 percent of households regularly save fixed amounts rather than flexibly adjusting savings to income variations as assumed by the Permanent Income Hypothesis (PIH). Fixed amount saving behaviour could thus imply a challenge to PIH-based standard...

Persistent link: https://www.econbiz.de/10009668279

Do the rich save more? : evidence from Canada

Alan, Sule; Atalay, Kadir; Crossley, Thomas F. - In: The review of income and wealth : journal of the … 61 (2015) 4, pp. 739-758

Persistent link: https://www.econbiz.de/10011623979

Chapter 62 A Practitioner's Approach to Estimating Intertemporal Relationships Using Longitudinal Data: Lessons from Applications in Wage Dynamics

MaCurdy, Thomas - In: Handbook of econometrics : volume 6A, (pp. 4057-4167). 2007

This chapter presents a unified set of estimation methods for fitting a rich array of models describing dynamic … chapter is motivated by the principle that, whenever possible, estimation methods should rely on routines available in … sampling inherent in survey longitudinal data, (3) incorporation of predetermined variables in estimation, and (4 …

Persistent link: https://www.econbiz.de/10014024953

Concavity of the consumption function with recursive preferences

Malamud, Semyon - 2014

Carroll and Kimball (1996) show that the consumption function for an agent with time-separable, isoelastic preferences is concave in the presence of income uncertainty. In this paper I show that concavity breaks down if we abandon time-separability. Namely, if an agent maximizing an isoelastic...

Persistent link: https://www.econbiz.de/10010412680

Who saves more, the naive or the sophisticated agent?

Groneck, Max; Ludwig, Alexander; Zimper, Alexander - In: Journal of economic theory : JET 219 (2024), pp. 1-33

Persistent link: https://www.econbiz.de/10015070997

Comparing Semi-Structural Methods to Estimate Unobserved Variables : The HPMV and Kalman Filters Approaches

Boone, Laurence - 2000

Economists often seek to estimate unobserved variables, representing “equilibrium” or “expected” values of economic variables, as benchmarks against which observed, realised values of these variables may be evaluated. Such comparisons are often used as economic policy indicators, for...

Persistent link: https://www.econbiz.de/10012445291

External habit in a production economy

Chen, Andrew Y. - 2013

A unified framework for understanding asset prices and aggregate fluctuations is critical for understanding both issues. I show that a real business cycle model with external habit preferences and capital adjustment costs provides one such framework. The estimated model matches the first two...

Persistent link: https://www.econbiz.de/10010227724

Piece-rate cuts and ratchet effects

Shearer, Bruce S. - In: The Canadian journal of economics : the journal of the … 55 (2022) 3, pp. 1371-1403

Persistent link: https://www.econbiz.de/10013465973

The wealthy hand-to-mouth

Kaplan, Greg; Violante, Giovanni L.; Weidner, Justin - 2014

Persistent link: https://www.econbiz.de/10010360070