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McGee, Rory - 2021

savings, consumption, and bequests? Answering this question requires separating precautionary savings, bequest motives, and … the desire to remain in one's home. I develop and estimate a structural model of retirement savings decisions with … marginal liquidity have larger insurance value than fully eliminating LTC expense risk per pound it costs the government. …

Persistent link: https://www.econbiz.de/10013272225

The marginal propensity to consume and household savings during the COVID-19 pandemic: Evidence from Thailand and Vietnam

Bui, Dzung; Dräger, Lena; Hayo, Bernd; Nghiem, Giang Hong - 2024

the savings position plays a crucial role, as the effects are especially pronounced for households that experienced a … decline in savings. This result contradicts a prediction from the life-cycle permanent income model with borrowing constraints …

Persistent link: https://www.econbiz.de/10014494933

The marginal propensity to consume during the COVID-19 pandemic: Evidence from Thailand and Vietnam

Dräger, Lena; Hayo, Bernd - 2022

In evaluating surveys conducted in Thailand and Vietnam during the COVID-19 pandemic, we find that the marginal propensity to consume is significantly larger for positive than for negative income shocks. This result contradicts a prediction from the lifecycle permanent income model with...

Persistent link: https://www.econbiz.de/10013193558

Spousal spillovers in the labor market: A structural assessment

Galaasen, Sigurd Mølster; Kruse, Herman - 2024

We explore the importance and nature of elderly couples' labor market interlinkages, and how such linkages shape the response to welfare reforms. To this end, we build a life cycle model with dual-earner households, featuring heterogeneous age gaps, non-separable leisure preferences, and...

Persistent link: https://www.econbiz.de/10015195460

How do households respond to expected inflation? An investigation of transmission mechanisms

Jiang, Janet Hua; Kamdar, Rupal; Lu, Kelin; Puzzello, … - 2024

We disentangle the channels through which inflation expectations affect household spending. We conduct a survey featuring hypothetical scenarios that generate a controlled increase in inflation expectations. For 74% of households, current spending is unresponsive, typically due to fixed budget...

Persistent link: https://www.econbiz.de/10015126814

Intertemporal MPC and shock size

Jappelli, Tullio; Savoia, Ettore; Sciacchetano, Alessandro - 2024

We elicit the intertemporal Marginal Propensity to Consume (iMPC) based on hypothetical different size lottery winnings through questions in the 2023-24 Italian Survey of Consumer Expectations (ISCE). Survey respondents were asked to allocate three hypothetical lottery winning amounts (€1,000,...

Persistent link: https://www.econbiz.de/10015195434

Mental Accounting and the Marginal Propensity to Consume

Bernard, René - 2022

an instant-access savings account, suggesting consumers violate fungibility. Further, the MPC falls with the shock size … find that low liquidity, self-control problems, and a lack of cognitive sophistication contribute to MPC heterogeneity. The …

Persistent link: https://www.econbiz.de/10013361945

Temporal Discounting in Later Life

Kulati, Ellam; Myck, Michal; Pasini, Giacomo - 2022

We explore intertemporal decision-making in later life by looking at temporal preference heterogeneity among older individuals. Using choice tasks responses from Poland collected as part of the Survey of Health, Ageing, and Retirement in Europe (SHARE), we elicit individual time preferences...

Persistent link: https://www.econbiz.de/10013470406

Commitment and the Dynamics of Household Labor Supply

Theloudis, Alexandros; Velilla, Jorge; Chiappori, … - 2022

The extent to which individuals commit to their partner for life has important implications. This paper develops a lifecycle collective model of the household, through which it characterizes behavior in three prominent alternative types of commitment: full, limited, and no commitment. We propose...

Persistent link: https://www.econbiz.de/10013470500

What drives the demand for high-cost consumption loans?

Hansen, Emil Toft - 2022

This paper utilizes high-quality transaction data from the largest bank in Denmark to study what drives the demand for high-cost consumption loans. I investigate the extent to which adverse events drive loan demand, or if it is more likely to be explained by borrowers' personality traits. I find...

Persistent link: https://www.econbiz.de/10014278496