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extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the … consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from …One of the basic motives for saving is the accumulation of wealth to insure future welfare. Both introspection and …
Persistent link: https://www.econbiz.de/10005504693
In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that … enjoyed a huge and undisputed success. But, since the early 1980s, the life-cycle theory has increasingly come under attack …. One reason is the existence of an important inter-generational transmission of wealth, to be imputed to motives that are …
Persistent link: https://www.econbiz.de/10010854342
In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that … enjoyed a huge and undisputed success. But, since the early 1980s, the life-cycle theory has increasingly come under attack …. One reason is the existence of an important inter-generational transmission of wealth, to be imputed to motives that are …
Persistent link: https://www.econbiz.de/10010752552
borrow for current consumption on the basis of their housing wealth, and the easing of borrowing constraints has often been …This paper reviews the role of house prices in influencing private consumption and residential investment in OECD … for the major OECD countries suggest that house prices have a significant positive impact on private consumption through …
Persistent link: https://www.econbiz.de/10005045630
relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to … have eased the liquidity constraints facing households, thus raising the targeted level of consumption. The objective of … assess the impact of financial deregulation on global wealth and on its different components (financial, housing and others …
Persistent link: https://www.econbiz.de/10005045935
cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …
Persistent link: https://www.econbiz.de/10008509469
cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …
Persistent link: https://www.econbiz.de/10008487510
"Comparative Survey of Savings in Japan and the United States", a binational survey conducted in 1996 by the Institute for Posts … light on which model of household behavior applies in the two countries. …
Persistent link: https://www.econbiz.de/10005486460
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 decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …
Persistent link: https://www.econbiz.de/10005661588
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 decompose idiosyncratic changes in income into predictable lifecycle … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …
Persistent link: https://www.econbiz.de/10005703321