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Temptation and commitment: Understanding the demand for illiquidity
Kovacs, Agnes; Moran, Patrick - 2019
The vast majority of household wealth in the U.S. is held in illiquid assets, primarily housing, making households … households are tempted to consume their liquid wealth but can use illiquid housing as a savings commitment device. The importance … of temptation and commitment is identified using data on consumption, liquid assets, and housing wealth over the life …
Persistent link: https://www.econbiz.de/10012265316
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Estimating temptation and commitment over the life-cycle
Kovacs, Agnes; Low, Hamish; Moran, Patrick - 2020
This paper estimates the importance of temptation (Gul and Pesendorfer, 2001) for consumption smoothing and asset accumulation in a structural life-cycle model. We use two complementary estimation strategies: first, we estimate the Euler equation of this model; and second we match liquid and...
Persistent link: https://www.econbiz.de/10012265354
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Housing equity, saving and debt dynamics over the Great Recession
Elming, William; Ermler, Andreas - 2016
and saving for young and old home-owners, both through a direct wealth eff ect and through housing equity serving as …
Persistent link: https://www.econbiz.de/10011786826
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House prices and consumption inequality
Etheridge, Ben - 2019
I characterize how house price shocks affect consumption inequality using a life-cycle model of housing and non-housing …
Persistent link: https://www.econbiz.de/10012265322
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Housing, home ownership, tenure choice, first-time home-buyers, marriage, income risk
Fisher, Jonas D. M.; Gervais, Martin - 2009
recovered only partially during the 2001{2005 housing boom. The 1980{2000 decline in young home ownership occurred as …
Persistent link: https://www.econbiz.de/10010275729
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Why has home ownership fallen among the young?
Fisher, Jonas D. M.; Gervais, Martin - Institute for Fiscal Studies (IFS) - 2009
and recovered only partially during the 2001-2005 housing boom. The 1980-2000 decline in young home ownership occurred as …
Persistent link: https://www.econbiz.de/10005509440
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Saving on a rainy day, borrowing for a rainy day
Alan, Sule; Crossley, Thomas; Low, Hamish - 2012
The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...
Persistent link: https://www.econbiz.de/10010331007
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Saving on a rainy day, borrowing for a rainy day
Alan, Sule; Crossley, Thomas; Low, Hamish - Institute for Fiscal Studies (IFS) - 2012
The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...
Persistent link: https://www.econbiz.de/10010827626
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A spouse and a house are all we need? Housing demand, labor supply and divorce over the lifecycle
de Rock, Bram; Kovaleva, Mariia; Potoms, Tom - 2023
framework of household behavior in which decisions are made regarding labor supply, divorce and housing demand over the … changes in the value of marriage due to a housing price shock have an asymmetric impact on individual welfare both across …
Persistent link: https://www.econbiz.de/10014480668
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Can micro-credit support public health subsidy programs?
Augsburg, Britta; Caeyers, Bet; Malde, Bansi - 2019
The low take-up of cost-effective and highly subsidised preventive health technologies in low-income countries remains a puzzle. One under-studied reason is that the design of subsidy schemes is such that households remain financially constrained. In this paper we analyse whether, and how,...
Persistent link: https://www.econbiz.de/10012028694