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Risk and saving in two-person households: More scope for precautionary saving

Apps, Patricia; Andrienko, Yuri; Rees, Ray - 2012

The existing literature suggests that when the saving decision of two-earner households under risk is analysed …, standard assumptions suffice for precautionary saving to exist under increases in risk of the first and second orders, but not …

Persistent link: https://www.econbiz.de/10010287608

Risk and Saving in Two-Person Households: More Scope for Precautionary Saving

Apps, Patricia; Andrienko, Yuri; Rees, Ray - Institute for the Study of Labor (IZA) - 2012

Persistent link: https://www.econbiz.de/10010812036

Why are saving rates so high in China?

Yang, Dennis Tao; Zhang, Junsen; Zhou, Shaojie - 2011

In this paper, we define The Chinese Saving Puzzle as the persistently high national saving rate at 34-53 percent of gross domestic product (GDP) in the past three decades and a surge in the saving rate by 11 percentage points from 2000-2008. Using data from the Flow of Funds Accounts (FFA) and...

Persistent link: https://www.econbiz.de/10010274634

Income inequality and saving

Alvarez-Cuadrado, Francisco; el Attar, Mayssun - 2012

Over the last three decades, average income for the bottom half of the US distribution increased by 8% while their average saving rate decreased by eight percentage points. Over the same period the US experienced a substantial increase in inequality and a continuous decrease in the aggregate...

Persistent link: https://www.econbiz.de/10010291404

Debt portfolios

Hintermaier, Thomas; Koeniger, Winfried - 2011

We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...

Persistent link: https://www.econbiz.de/10010278362

Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality

Primiceri, Giorgio; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2007

Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...

Persistent link: https://www.econbiz.de/10005703321

"Should I Pay for You or for Myself"? The Optimal Level and Composition of Retirement Benefit Systems

van Praag, Bernard M. S.; Cardoso, Pedro - 2001

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...

Persistent link: https://www.econbiz.de/10010276956

Heterogeneous Life-Cycle Profiles, Income Riskand Consumption Inequality

Primiceri, Giorgio E.; Rens, Thijs van - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

Was the increase in income inequality in the US due to permanent shocks or merely to anincrease in the variance of transitory shocks? The implications for consumption and welfaredepend crucially on the answer to this question. We use CEX repeated cross-section data onconsumption and income to...

Persistent link: https://www.econbiz.de/10005861079

Political Uncertainty and Household Savings

Aaberge, Rolf; Liu, Kai; Zhu, Yu - 2014

study household savings and expenditure adjustment from an unexpected, large-scale and rapidly evolving political shock that … uncertainty resulted in significant temporary increases in savings among urban households in China. Households responded mainly by … empirical studies of precautionary savings such as self-selection and life-cycle effects. …

Persistent link: https://www.econbiz.de/10010481576

Household Debt and Crises of Confidence

Hintermaier, Thomas; Koeniger, Winfried - 2015

We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence. The house price feeds back on itself by contributing to a liquidity effect, which operates through the value of housing in a collateral constraint. Over a specific range of debt...

Persistent link: https://www.econbiz.de/10011401681