of expected income. Our methodology provides a natural decomposition of saving into its precautionary and retirement … consumption and income over the working lives of typical households across different education and occupation groups. Using these … income uncertainty. The model fits the profiles quite well. In addition to providing tight estimates of the discount rate and …

This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for … domestic welfare through two channels. First, by reducing export income volatility and allowing for a smoother consumption path … to borrow against future export income). Under plausibly calibrated parameters, the second channel may lead to much …

-country general equilibrium model to show that hedging of real exchange rate movements and non-financial income risk, commonly …

using a suitable direct measure provided in the 1989-2010 Bank of Italy Survey of Household Income and Wealth. Focusing on a … and total income and wealth, but more importantly that it increases with the difference between hers and her husband …'s characteristics in terms of age, education, and income. The main conclusion is that decision-making power over family economics is not …

examine the role of social influences on debt culture, emanating from perceived average income of peers. Utilizing unique …

faster than the Hotelling rule to generate a risk premium on oil wealth. We then discuss how the management of Norway’s fund …

the risk/return trade-off within an optimizing setting that endogenizes return predictability. In the experiments that we …