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This paper extends the standard model of life cycle consumption, saving and labor supply in a number of directions. First, it argues that consumption should be defined as expenditure on household production as well as on market goods, that is, we are interested in life cycle profiles of full...
Persistent link: https://www.econbiz.de/10001610691
In the model of Stark et al. (1997, 1998), the possibility of employment in a developed country raises the level of human capital acquired by workers in the developing country. We show that this result holds even when workers have the option to save
Persistent link: https://www.econbiz.de/10013087331
option to save. -- Human capital formation ; Savings ; Intertemporal choice ; Prospect of migrating …
Persistent link: https://www.econbiz.de/10009700329
option to save. -- Human capital formation ; Savings ; Intertemporal choice ; Prospect of migrating …
Persistent link: https://www.econbiz.de/10009687810
This paper extends the standard model of life cycle consumption, saving and labor supply in a number of directions. First, it argues that consumption should be defined as expenditure on household production as well as on market goods, that is, we are interested in life cycle profiles of full...
Persistent link: https://www.econbiz.de/10011401086
. This paper numerically solves, simulates, and structurally estimates a dynamic life cycle model of allocations (consumption/savings … that observed choices are not fully consistent with an optimal, forward-looking strategy. Whereas financial savings and …
Persistent link: https://www.econbiz.de/10011619243
A central justification for social insurance and for other policies aimed at retirement savings is that individuals may … payroll taxes and other withholding to fund retirement savings as akin to an income tax, while largely ignoring the distant …, making savings-promotion policies much more costly than appreciated. Or consider what may be the labor supply implications …
Persistent link: https://www.econbiz.de/10013019561
We analyze precautionary saving behavior in a framework with labor and non-labor income risks, an endogenous supply of labor, and a representation of preferences that disentangles attitudes towards risk, attitudes towards intertemporal smoothing, and ordinal preferences for consumption and...
Persistent link: https://www.econbiz.de/10013151927
) savings are strictly positive for at least 85 percent of subjects (iii) a majority of subjects uses time allocation to smooth …
Persistent link: https://www.econbiz.de/10012195562
intertemporal substitution. To study this, we set up a two-period model with wage uncertainty. This extends the standard savings …) savings are strictly positive for at least 85 percent of subjects (iii) a majority of subjects uses time allocation to smooth …
Persistent link: https://www.econbiz.de/10012175734