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American dream delayed: shifting determinants of homeownership

Khorunzhina, Natalia; Miller, Robert - 2019

This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to homeowner, to investigate the secular decline in homeownership over the past several decades, wholly attributable to households postponing the purchase of their first...

Persistent link: https://www.econbiz.de/10015264451

Do potential future health shocks keep older Americans from using their housing equity?

Murray, Tim - 2019

It is a well-established fact that many retirees do not utilize their accumulated housing equity to help smooth and … may retain their housing equity to help pay off medical bills in the future, treating their house as precautionary savings …, allowing them to use their housing equity to smooth and increase consumption. …

Persistent link: https://www.econbiz.de/10015228257

Do potential future health shocks keep older Americans from using their housing equity?

Murray, Tim - 2019

Many retirees retain housing equity and do not utilize it to help finance spending on consumption. In this paper, I …

Persistent link: https://www.econbiz.de/10015264286

Housing Decision with Divorce Risk

Fischer, Marcel; Khorunzhina, Natalia - 2018

We build a realistically calibrated life-cycle model of housing decisions under divorce risk. As observed in the data …

Persistent link: https://www.econbiz.de/10015262095

The Correlation between Time Preference and Incomes Is Spurious: They Are Bridged by Fluid Intelligence

Harashima, Taiji - 2019

The rate of time preference (RTP) has been observed to be negatively correlated with incomes, but the mechanism behind this correlation is not yet sufficiently understood. Here, I examine it on the basis of fluid intelligence in an economy in which households behave according to the maximum...

Persistent link: https://www.econbiz.de/10015265511

Kantian optimization with quasi-hyperbolic discounting

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2022

We consider a neoclassical growth model with quasi-hyperbolic discounting under Kantian optimization: each temporal self acts in a way that they would like every future self to act. We introduce the notion of a Kantian policy as an outcome of Kantian optimization in a given class of policies. We...

Persistent link: https://www.econbiz.de/10015267998

The Neoclassical Growth Model with Time-Inconsistent Decision Making and Perfect Foresight

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2021

In this paper, we propose an approach to describe the behavior of naive agents with quasi-hyperbolic discounting in the neoclassical growth model. To study time-inconsistent decision making of an agent who cannot commit to future actions, we introduce the notion of sliding equilibrium and dis-...

Persistent link: https://www.econbiz.de/10015246947

Note sulla teoria del consumo

Travaglini, Giuseppe - 2012

This is a short survey on consumption theory. Consumption is important to both fluctuation and growth. In addition, consumption introduces some important issues involving financial markets and portfolio decisions. We will describe consumption decisions in a dynamic context. Uncertainty about...

Persistent link: https://www.econbiz.de/10015230226

Navigating Scarcity: An Analysis of Expenditure Patterns Among Low-Income Households

Asuamah Yeboah, Samuel - 2024

This review systematically examines the expenditure patterns of low-income households, focusing on how limited financial resources influence their spending decisions. It reveals that a significant portion of income is devoted to necessities such as food, shelter, and utilities, leaving little...

Persistent link: https://www.econbiz.de/10015214424

The policy-driven boom and bust in the housing market: Evidence from Mongolia

Doojav, Gan-Ochir; Damdinjav, Davaasukh - 2019

This paper examines the effects of a mortgage interest rate subsidy on boom and bust in the housing market by … exploiting the Housing Mortgage (HM) program implemented in Mongolia. Main results are (i) the recent housing boom occurred from … 2012Q2 to 2014Q1, while the housing bust lasted four years, (ii) both house-specific factors and macroeconomic variables …

Persistent link: https://www.econbiz.de/10015218401