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consumption after being tested HIV positive. The paper describes different effects on aggregate savings according to different … HIV. The model specifies a utility function that includes both regular consumption, and medical expenditures. Medical … stages of the epidemic. We show that the HIV epidemic decreases savings if especially young individuals are (perceived to be …
Persistent link: https://www.econbiz.de/10014224367
This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth … expected future consumption growth rates and/or in rates of return on wealth that, through the inter-temporal budget constraint …, affect the current consumption-wealth ratio. We estimate the long-run relationship between consumption, total wealth and …
Persistent link: https://www.econbiz.de/10012824799
the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to … expectations of future income and consumption growth rates. We investigate whether these expectations suffice to explain the shifts … in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more …
Persistent link: https://www.econbiz.de/10012511037
We collect 2,735 estimates of the elasticity of intertemporal substitution in consumption from 169 published studies … participation substitute a larger fraction of consumption intertemporally in response to changes in expected asset returns. Micro …
Persistent link: https://www.econbiz.de/10009786885
We collect 2,735 estimates of the elasticity of intertemporal substitution in consumption from 169 published studies … market participation substitute a smaller fraction of consumption intertemporally in response to changes in expected asset …
Persistent link: https://www.econbiz.de/10013076254
A large body of microeconomic evidence supports Friedman (1957)'s proposition that household income can be reasonably … permanent income shocks helps our model to explain a substantial part of the large degree of empirical wealth heterogeneity that …
Persistent link: https://www.econbiz.de/10013034318
insurance in aging populations but to put structure on these debates. We formulate a large set of models which we use for …
Persistent link: https://www.econbiz.de/10014023471
The aim of this paper is to analyze the cause and effect relationship between economic growth and savings in advanced … the existence of one-way casual relationship between gross domestic savings and gross domestic product in the case of … relationship between gross domestic product and gross domestic savings both in developed economies and developing and transition …
Persistent link: https://www.econbiz.de/10009313678
This research examines the effects of earmarking money on savings by low-income consumers. In particular, the authors … test two interventions that are designed to enhance the effects of earmarking: a) using a visual reminder of the savings …. In addition, the presence of the visual reminder increases the savings rate. The authors conclude with implications for …
Persistent link: https://www.econbiz.de/10013134845
We propose a novel way to measure the rule of law intensity of exports at the goods level based on nearly 100 million disaggregated bilateral trade flows around the globe. We categorise goods into three groups: fragmented, primary and other. The theoretical literature on holdup problems...
Persistent link: https://www.econbiz.de/10011516584