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Long-Term-Care Utility and Late-in-Life Saving

Ameriks, John - 2015

Older wealthholders spend down assets much more slowly than predicted by classic life-cycle models. This paper introduces health-dependent utility into a model in which preferences for bequests, expenditures when in need of long-term care (LTC), and ordinary consumption combine with health and...

Persistent link: https://www.econbiz.de/10013027270

Understanding the Rise in Corporate Cash : Precautionary Savings or Foreign Taxes

Faulkender, Michael W. - 2017

What has driven the dramatic rise in U.S. corporate cash? Using non-public data, we show that the run-up is not uniform across firms but is concentrated in the foreign subsidiaries of multinational firms. Standard precautionary motives explain only domestic cash holdings, not these burgeoning...

Persistent link: https://www.econbiz.de/10012948039

New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals : Part Iii: Life Cycle Savings vs. Inherited Savings

Stiglitz, Joseph E. - 2015

effects of tax policy or changes in the parameters of the economy. The relative role of life cycle savings increases with the … rate of growth and with the relative savings rate of life-cycle savers and capitalists. An increase in the savings rate of … workers has no effect on output per capita; life cycle savings simply crowds out inherited savings. A tax on capital (even if …

Persistent link: https://www.econbiz.de/10013022177

Dynamic Savings Choices with Disagreements

Cao, Dan - 2016

.js?config=AM_HTMLorMML-full"></script>We study a flexible dynamic savings game in continuous time, where decision makers rotate in and out of power. These agents …

Persistent link: https://www.econbiz.de/10012998411

Skewed Wealth Distributions : Theory and Empirics

Benhabib, Jess - 2016

Invariably across a cross-section of countries and time periods, wealth distributions are skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth shares. In this survey we categorize the theoretical studies on the distribution of wealth in terms of the...

Persistent link: https://www.econbiz.de/10013000515

Saving and Investment in an Open Economy with Non-Traded Goods

Engel, Charles M. - 2007

We examine a model of a small open economy in which there is free international mobility of financial capital, investment in capital goods and a non-traded good. Such an environment is rich enough to explain several phenomena that are inexplicable in more barren models. We suggest an explanation...

Persistent link: https://www.econbiz.de/10012777400

The Economics of Saving

King, Mervyn - 2006

This paper analyses recent contributions to the theory of household saving and examines empirical evidence on the …

Persistent link: https://www.econbiz.de/10012783924

Social Security Expectations and Retirement Savings Decisions

Dominitz, Jeff - 2002

Retirement savings decisions should depend on expectations of Social Security retirement income. Persons may be … savings …

Persistent link: https://www.econbiz.de/10012787376

Why Do the Rich Save so Much?

Carroll, Christopher D. - 2008

This paper considers several alternative explanations for the fact that households with higher levels of lifetime income ( the rich') have higher lifetime saving rates (Dynan, Skinner, and Zeldes (1996); Lillard and Karoly (1997)). The paper argues that the saving behavior of the richest...

Persistent link: https://www.econbiz.de/10012774892

Quantitative Implications of the Home Bias : Foreign Underinvestment, Domestic Oversaving, and Corrective Taxation

Razin, Assaf - 2008

There is strong evidence about a home-court advantage in international portfolioquot; investment. One explanation for the bias is an information asymmetry between domestic andquot; foreign investors about the economic performance of domestic firms. This asymmetry causesquot; two types of...

Persistent link: https://www.econbiz.de/10012774918