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Heterogenous intertemporal elasticity of substitution and relative risk aversion: estimation of optimal consumption choice with habit formation and measurement errors

Natalia, Khorunzhina; Wayne Roy, Gayle - 2011

consumption without parametric assumptions on the distribution of measurement errors. The estimation results support habit …

Persistent link: https://www.econbiz.de/10015229051

Micro-level Estimation of Optimal Consumption Choice with Intertemporal Nonseparability in Preferences and Measurement Errors

Natalia, Khorunzhina; Wayne Roy, Gayle - 2011

This paper investigates the presence of habit formation in household consumption, using data from the Panel Study of Income Dynamics. We develop an econometric model of internal habit formation of the multiplicative specification. The restrictions of the model allow for classical measurement...

Persistent link: https://www.econbiz.de/10015250600

Drivers of household arrears: an euro area country panel data analysis

Lenarčič, Črt - 2022

This paper aims to explore how mortgage and consumer loans arrears are affected by household financial and social status as well as macroeconomic situation and banking standards and restrictions. In general, arrears could pose an elevated risk to the financial stability of banks and could...

Persistent link: https://www.econbiz.de/10015268573

From income and consumption inequality to economic welfare inequality: the role of labor supply

Theloudis, Alexandros - 2011

This paper discusses the links between earnings, consumption and economic welfare inequality. It places emphasis on the role of leisure and labor supply in the assessment of cross-household inequality and argues that the documented increase of such inequality has its origin in the labor market....

Persistent link: https://www.econbiz.de/10015231140

Endogenous Skills and Labor Income Inequality

Yang, Guanyi - 2018

How much does inequality in life depend on conditions established at age 18? What role does post-18 higher education play? I use an education choice model with exogenous conditions from family wealth, established human capital at age 18 and shocks to human capital to examine these questions....

Persistent link: https://www.econbiz.de/10015261894

Equity Criteria as Instrument to Ensure Sustainability of Pareto or Kaldor-Hicks Efficiency: A Correlation Hidden by Sources of Confounding as Key for Sorting Out the Global Economic Crisis

Benazzo, Piero - 2010

The hypothesis is that Pareto and Kaldor-Hicks Efficiency have an aspect of sustainability in relation to inequality. The analysis finds efficient situations reached increasing inequality as diminishing in the long term effective demand in a larger measure than counterbalancing increases thanks...

Persistent link: https://www.econbiz.de/10015222232

Geschenkter Wohlstand : Bildungsrenditen eines gebührenfreien Hochschulstudiums

Kirchner, Markus - 2007

Lebenseinkommen verschiedener Bildungsgruppen in Deutschland und damit verbunden eine Berechnung der Bildungsrenditen bestimmter …

Persistent link: https://www.econbiz.de/10009449064

Dynamic Stock Market Participation of Households

Khorunzhina, Natalia - 2011

This paper develops and estimates a dynamic model of stock market participation, where consumers’ decisions regarding stock market participation are influenced by participation costs. The practical significance of the participation costs is considered as being a channel through which financial...

Persistent link: https://www.econbiz.de/10015229691

Channels of risk-sharing among Canadian provinces: 1961–2006

Basher, Syed A.; Balli, Faruk; Louis, Rosmy - 2009

This paper incorporates recent developments in the literature to quantify the amount of interprovincial risk-sharing in Canada. We find that both capital market and the federal tax-transfer system play an almost equally important role (about 26 percent each) in smoothing shocks to gross...

Persistent link: https://www.econbiz.de/10015218177

Integration, decoupling and the global financial crisis: A global perspective

Miankhel, Adil Khan; Kalirajan, Kaliappa; Thangavelu, … - 2010

The recent global recession requires policy makers to identify the relative importance of shock transmission mechanisms … mortgage crisis shock originated in the real sector (falling US housing prices) and was transmitted through trade variables … shock did not spread widely to other regions. Even in the MERCOSUR and SAARC, due to limited goods exports exposure to the …

Persistent link: https://www.econbiz.de/10015221629