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Life Cycle Time Allocation and Saving in an Imperfect Capital Market

Apps, Patricia; Rees, Ray - 2021

This paper combines income and expenditure with time use data to provide a unique picture of the time paths of labour supplies, saving and full consumption for two-adult households over the life cycle. These data are used to test the life cycle model presented in the paper, at the core of which...

Persistent link: https://www.econbiz.de/10013319460

Revisiting, from a Frischian point of view, the relationship between elasticities of intratemporal and intertemporal substitution

Biørn, Erik - 2017

How are substitution in the spatial and in the temporal sense connected? Can estimates based on data with spatial variation be transmitted into values appropriate for exploring temporal variation, and vice versa? This paper, building on, inter alia, Frisch (1959), attempts to give some...

Persistent link: https://www.econbiz.de/10011636063

Richer earnings dynamics, consumption and portfolio choice over the life cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2022

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that, in the context of a structurally estimated life-cycle portfolio choice model, allowing for these rich features of earnings dynamics helps to better understand the limited...

Persistent link: https://www.econbiz.de/10014236105

Richer Earnings Dynamics, Consumption and Portfolio Choice Over the Life Cycle

Gálvez, Julio; Paz Pardo, Gonzalo - 2023

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that allowing for these rich features of earnings dynamics, in the context of a structurally estimated life-cycle portfolio choice model, helps to rationalize the limited participation...

Persistent link: https://www.econbiz.de/10014348942

Elasticity of Intertemporal Substitution : An Investigation in Iran

Einian, Majid - 2019

We present estimates of the Elasticity of Intertemporal Substitution (EIS) for Iranian households using synthetic cohort panels based on household micro-data. Results show significant difference with the common values used in Dynamic Stochastic General Equilibrium (DSGE) models which are...

Persistent link: https://www.econbiz.de/10012864465

A Life-Cycle Model with Ambiguous Survival Beliefs

Groneck, Max - 2013

On average, "young" people underestimate whereas "old" people overestimate their chances to survive into the future. We adopt a Bayesian learning model of ambiguous survival beliefs which replicates these patterns. The model is embedded within a non-expected utility model of life-cycle...

Persistent link: https://www.econbiz.de/10013092823

Life cycle time allocation and saving in an imperfect capital market

Apps, Patricia (contributor); Rees, Ray (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002238108

Life cycle time allocation and saving in an imperfect capital market

Apps, Patricia (contributor); Rees, Ray (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001937662

Consumption-savings decisions under upward looking comparisons : evidence from Germany, 2002 - 2011

Drechsel-Grau, Moritz; Schmid, Kai D. - 2013

the consumption level of all households who are perceived to be richer, on household savings and consumption. When …

Persistent link: https://www.econbiz.de/10010190171

Income risk, precautionary saving, and loss aversion : an empirical test

Ibanez, Marcela; Schneider, Sebastian O. - 2021

, experimentally elicited loss aversion and precautionary savings. We do so using a sample of 640 individuals from the low … theoretical predictions, we find that an increase in income risk is associated with higher savings for loss-averse individuals …, and that this increase in savings grows with the degree of loss aversion. Thus, as suggested by Koszegi and Rabin (2009 …

Persistent link: https://www.econbiz.de/10012438025