Author: Abhijit V. BanerjeePublisher:
ISBN:
Category :
Languages : en
Pages : 39
Book Description
Imperfect information and the permanent income hypothesis
Superior information, income shocks and the permanent income hypothesis
Author: Luigi PistaferriPublisher:
ISBN:
Category : Economics
Languages : en
Pages : 31
Book Description
Imperfect Information and the Permanent Income Hypothesis
Author: Abhijit V. BanerjeePublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 54
Book Description
What We Don't Know Doesn't Hurt Us
Author: The Rate of Interest: Its Nature, Determination and Relation to Economic Phenomena
Author: Irving FisherPublisher:
ISBN:
Category : Capital
Languages : en
Pages : 482
Book Description
Individual Income, Incomplete Information, and Aggregate Consumption
Author: Jörn-Steffen PischkePublisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 54
Book Description
Fixed Amount Saving and the Permanent Income Hypothesis
Author: Simeon VosenPublisher:
ISBN: 9783867884174
Category :
Languages : en
Pages : 0
Book Description
Weekly Weather and Crop Bulletin
Author: Heterogeneity and Persistence in Returns to Wealth
Author: Andreas FagerengPublisher: International Monetary Fund
ISBN: 1484370066
Category : Business & Economics
Languages : en
Pages : 69
Book Description
We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate.
National Saving and Economic Performance
Author: B. Douglas BernheimPublisher: University of Chicago Press
ISBN: 9780226044040
Category : Business & Economics
Languages : en
Pages : 408
Book Description
"... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.