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Cross Sectional Facts for Macroeconomists

Krueger, Dirk; Perri, Fabrizio; Pistaferri, Luigi; … - C.E.P.R. Discussion Papers - 2009

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After …

Persistent link: https://www.econbiz.de/10008509469

Consumption Over the Life-Cycle

Gourinchas, Pierre-Olivier; Parker, Jonathan A - C.E.P.R. Discussion Papers - 2000

This paper employs cohort technique and Consumer Expenditure Survey data to construct average age-profiles of consumption and income over the working lives of typical households across different education and occupation groups. Using these profiles, we estimate a structural model of optimal...

Persistent link: https://www.econbiz.de/10005504201

Effects on School Enrollment and Performance of a Conditional Cash Transfers Program in Mexico

de Janvry, Alain; Dubois, Pierre; Sadoulet, Elisabeth - C.E.P.R. Discussion Papers - 2007

We study the effects of a conditional cash transfers program on school enrollment and performance in Mexico. We provide a theoretical framework for analyzing the dynamic educational process including the endogeneity and uncertainty of performance at school (passing grades) and the effect of a...

Persistent link: https://www.econbiz.de/10005504259

Formal and Informal Risk Sharing in LDCs: Theory and Empirical Evidence

Dubois, Pierre; Jullien, Bruno; Magnac, Thierry - C.E.P.R. Discussion Papers - 2007

We develop and estimate a model of dynamic interactions where commitment is limited and contracts are incomplete to explain the patterns of income and consumption growth in village economies of less developed countries. Households can insure through both formal contracts and informal agreements,...

Persistent link: https://www.econbiz.de/10005504414

A Direct Test of the Buffer Stock Model of Saving

Jappelli, Tullio; Padula, Mario; Pistaferri, Luigi - C.E.P.R. Discussion Papers - 2007

fluctuations. When wealth is below an optimal target, consumers try to increase their buffer stock of wealth by saving more. When … data on working-age individuals drawn from the 2002 and 2004 Italian Surveys of Household Income and Wealth. One of the … most appealing features of the survey is that it has data on the amount of wealth held for precautionary purposes, which we …

Persistent link: https://www.econbiz.de/10005504459

Conspicuous Consumption, Human Capital and Poverty

Moav, Omer; Neeman, Zvika - C.E.P.R. Discussion Papers - 2008

Poor families around the world spend a large fraction of their income on consumption of goods that appear to be useless in alleviating poverty, while saving at very low rates and neglecting investment in health and education. Such consumption patterns seem to be related to the persistence of...

Persistent link: https://www.econbiz.de/10005504622

The Role of the Annuity's Value on the Decision (Not) to Annuitize: Evidence from a Large Policy Change

Bütler, Monika; Staubli, Stefan; Zito, Maria Grazia - C.E.P.R. Discussion Papers - 2008

This paper presents new evidence on how the annuitization decision is affected by changes in the annuity's value. We take advantage of an unprecendented change in policy, which in 2004 moderated the super-mandatory Swiss occupational pension scheme: The 20 percent reduction in the rate at which...

Persistent link: https://www.econbiz.de/10005504637

Private Transfers, Borrowing Constraints and the Timing of Homeownership

Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 1998

The 1991 Italian Survey of Household Income and Wealth contains detailed information on how respondents acquired their …

Persistent link: https://www.econbiz.de/10005504649

A cost-of-living dynamic price index, with an application to indexing retirement accounts

Reis, Ricardo - C.E.P.R. Discussion Papers - 2005

If a consumer wishes to protect her retirement account from the risk of price changes in order to sustain a stable standard of living, then what price index should the account be indexed to? This paper constructs a dynamic price index (DPI) that answers this question. Unlike the existing theory...

Persistent link: https://www.econbiz.de/10005504651

The Empirical Importance of Precautionary Saving

Gourinchas, Pierre-Olivier; Parker, Jonathan A - C.E.P.R. Discussion Papers - 2001

One of the basic motives for saving is the accumulation of wealth to insure future welfare. Both introspection and … consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from … rule, (b) the importance of precautionary saving for life-cycle saving and wealth accumulation, (c) the contribution of …

Persistent link: https://www.econbiz.de/10005504693