Showing 1 - 10 of 41
Cet article présente les développements récents de la théorie de la répartition intertemporelle de la consommation et de l'épargne. L'auteur part du modèle de revenu permanent à anticipations rationnelles. Ce modèle ne rend pas compte de la faible volatilité de la consommation par...
Persistent link: https://www.econbiz.de/10011141890
This paper analyses the wage dynamics of migrants focussing on their human capital accumulation and how it is affected by potential return migration. We develop a life-cycle model describing labor market participation, wages, return decisions as well as two forms of human capital, work...
Persistent link: https://www.econbiz.de/10011099890
This paper analyzes the career progression of skilled and unskilled workers, with a focus on how careers are aected by economic downturns and whether formal skills, acquired early on, can shield workers from the eect of recessions. Using detailed administrative data for Germany for numerous...
Persistent link: https://www.econbiz.de/10011081632
This paper analyzes the career progression of skilled and unskilled workers, with a focus on how careers are affected by economic downturns and whether formal skills, acquired early on, can shield workers from the effect of recessions. Using detailed administrative data for Germany for numerous...
Persistent link: https://www.econbiz.de/10010939078
In part I the authors first review the formal theory of dynamic optimization; they then present the numerical tools and econometric techniques necessary to evaluate the theoretical models. In language accessible to a reader with a limited background in econometrics, they explain most of the...
Persistent link: https://www.econbiz.de/10005064809
Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of durables, under the PIH model, is 100%. This...
Persistent link: https://www.econbiz.de/10005580029
This paper studies the effects of subsidies on durable goods markets. In particular, we focus on a recent policy in France in which the governments of Balladur and Juppé subsidized the replacement of old cars with new ones. To study this policy, we construct a dynamic stochastic discrete choice...
Persistent link: https://www.econbiz.de/10005782316
The literature of unit roots and structural breaks has produced numerous tests that follow non-standard asymptotic distributions. This paper by fitting a seminonparametric model to them proposes a new simple way of calculating the p-values.
Persistent link: https://www.econbiz.de/10005630933
This paper studies the effects of subsidies on durable goods markets. In particular, we study a recent policy in France in which the governments of Balladur and Jupp‚ subsidized the replacement of old cars with new ones. To study this policy, we construct a dynamic stochastic discrete choice...
Persistent link: https://www.econbiz.de/10005720312
Persistent link: https://www.econbiz.de/10005159023