Showing 1 - 10 of 291
changing the numeraire from units of consumption to units of the consumption process. In terms of the new units, the wealth …
Persistent link: https://www.econbiz.de/10010397480
discrete-time solutions are derived, illustrating the following ideas: (i) The price-dividend ratio (such as the wealth …
Persistent link: https://www.econbiz.de/10010397550
This paper applies a factor model to the study of risk sharing among U.S. states. The factor model makes it possible to disentangle movements in output and consumption due to national, regional, or state-specific business cycles from those due to measurement error. The results of the paper...
Persistent link: https://www.econbiz.de/10010397548
We develop an infinite time horizon, continuous time model of portfolio choice and consumption allocation for an investor seeking to maximize the expected utility of his life-time consumption. In this model, the investor is endowed with capital that can be invested in long-lived capital assets...
Persistent link: https://www.econbiz.de/10010397569
the main sources of private wealth in the Western and Eastern Bloc countries. The research problem focuses on the … qualitative content analysis. A structured matrix of four predetermined sources of wealth - CEO compensation, financial trading …
Persistent link: https://www.econbiz.de/10015192216
Wealth is an increasingly important dimension of economic well-being and is attracting rising attention in discussions … of social inequality. In this paper, we compare - within and across countries - wealth outcomes, and link those to both … employment-related factors and policy solutions that have the potential to improve wealth creation and retirement security for …
Persistent link: https://www.econbiz.de/10013365398
Piketty (2017) argues in favor of a multidimensional and relational approach to the analysis of wealth inequality … approach by focusing on different functions of wealth. We operationalize functions of wealth by empirically analyzing the … on these decisive functions of wealth aligns well with the wealth distribution, in ways that vary considerably across …
Persistent link: https://www.econbiz.de/10013370140
Families’ economic wealth is a resource that can provide children with crucial advantages early in their lives. Prior … research identified substantial variation of wealth levels between different family types with children from single … the non-resident parents’ wealth may potentially reduce the disadvantage remain unclear. To address these research gaps …
Persistent link: https://www.econbiz.de/10013448511
The rapid widening of intergenerational wealth inequalities has led to sharp differences in living standards in Great … Britain. Understanding which components of wealth are driving such inequalities is important for improving wealth and social … mobility. We show the change in the intergenerational persistence in wealth in Great Britain is due to inequality in offspring …
Persistent link: https://www.econbiz.de/10013468439
We review the theoretical justification of consumption taxes in advanced economies, providing a systematic overview of the vast public finance literature exploring how goods and services should be taxed. Our discussion focuses on both the determinants of the optimal level of consumption taxation...
Persistent link: https://www.econbiz.de/10013470297