Books > Business & Economics > Business & management > Sales & marketing > Market research
|
Buy Now
Consumption Behavior and the Effects of Government Fiscal Policies (Hardcover)
Loot Price: R1,240
Discovery Miles 12 400
|
|
Consumption Behavior and the Effects of Government Fiscal Policies (Hardcover)
Series: Harvard Economic Studies
Expected to ship within 12 - 17 working days
|
In Consumption Behavior and the Effects of Government Fiscal
Policies, Randall Mariger explores how people make decisions about
how much to consume and save over their lifetimes. An understanding
of these issues illuminates not only individual behavior but
important properties of the macro economy as well. The most popular
framework for analyzing consumption has been the life-cycle theory.
Mariger tests two fundamental, and controversial, assumptions
underlying the theory-that there are no planned bequests and that
human capital is marketable. To do this, he fits a structural
consumption model that incorporates endogenous liquidity
constraints (non-marketability of human capital), but no planned
bequests, to data on a cross-section of U. S. families. This
estimated model, in conjunction with estimates of alternative
models, enables him to make inferences about the respective effects
of liquidity constraints and social security wealth on consumption.
This latter effect yields indirect evidence concerning planned
bequests. Mariger also presents direct evidence concerning bequest
behavior. Among his findings are that the model fits the data very
well in spite of its tight theoretical structure; that liquidity
constraints are prevalent and have important effects on consumption
behavior; that planned bequests appear not to be common among
families in the lower 99.1% of the wealth distribution; and that
families in the upper 0.9% of the wealth distribution appear to
plan substantial bequests. Mariger devotes the latter part of his
book to studying the implications of his estimated consumption
model for the effects of government fiscal policies. More
specifically, he simulates the model to infer the effects of
government tax/debt policy, as well as those of the social security
system, on aggregate savings.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
|
You might also like..
|
Email address subscribed successfully.
A activation email has been sent to you.
Please click the link in that email to activate your subscription.