Journal article | Zeitschriftenartikel

Consumption and income smoothing

This paper presents a two sector dynamic general equilibrium model in which income smoothing takes place within the households (intra-temporally), and consumption smoothing takes place among the households (inter-temporally). Idiosyncratic risk sharing within the family is based on an income smoothing contract. There are two sectors in the model, the regular sector and the underground sector, and the smoothing comes from the underground sector, which is countercyclical with respect aggregate GDP. The paper shows that the simulated disaggregated consumption and income series (that are the regular and underground consumption flows) are more sensitive to exogenous changes in sector-specific productivity and tax rates than regular and underground income flows, and that this picture is reversed when the aggregate series are considered.

Consumption and income smoothing

Urheber*in: Busato, Francesco; Chiarini, Bruno; Marzano, Elisabetta

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Sprache
Englisch
Umfang
Seite(n): 2191-2207
Anmerkungen
Status: Postprint; begutachtet (peer reviewed)

Erschienen in
Applied Economics, 40(17)

Thema
Wirtschaft
Soziologie, Anthropologie
Wirtschaftssoziologie
Volkswirtschaftslehre

Ereignis
Geistige Schöpfung
(wer)
Busato, Francesco
Chiarini, Bruno
Marzano, Elisabetta
Ereignis
Veröffentlichung
(wo)
Vereinigte Staaten von Amerika
(wann)
2008

DOI
URN
urn:nbn:de:0168-ssoar-240793
Rechteinformation
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
Letzte Aktualisierung
21.06.2024, 16:26 MESZ

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Objekttyp

  • Zeitschriftenartikel

Beteiligte

  • Busato, Francesco
  • Chiarini, Bruno
  • Marzano, Elisabetta

Entstanden

  • 2008

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