1,721,133 research outputs found
When you need it or when I die? Timing of monetary transfers from parents to children
Full text linkThe standard overlapping generations model assumes the ability to borrow against bequests. If this assumption is not met, it may happen that not all generations smooth their consumption over time. We prove that by allowing for inter vivos transfers in this latter situation, all generations smooth consumption, i.e. the first best solution is restored. Next, using a combination of Dutch survey and administrative data, we provide empirical support for the model's implication that parents transfer wealth when their children need to borrow out of future resources. Our findings suggest an instrumental role for inter vivos transfers as a device that generations can resort to for smoothing their consumption over time
When you need it or when I die? Timing of monetary transfers from parents to children
Full text linkThis paper investigates the timing of wealth transfers between generations. We develop an overlapping generations model in which each generation can borrow against its future income but not against expected bequest. As a result, generations relatively poorer than their parents may end up not smoothing consumption. We prove that if wealth transfers can take place earlier in life, then each generation smooths consumption despite the constraint on borrowing and the first best solution is restored. The model implies that parents transfer resources when the children are credit constrained. This implication is tested using Dutch survey data on households' intentions to make intervivos transfers matched with administrative data that allow to construct a measure of the probability of being in need of a transfer. All in all, the paper highlights the importance of intervivos transfers as a device that households can resort to in order to mitigate inter--generational wealth inequalities
Is It True Love? Altruism Versus Exchange in Time and Money Transfers
Full text linkThis paper investigates what motivates intergenerational inter-vivos time and money transfers. We consider a model in which transfers may be driven not only by altruism, but also by exchange considerations. We use data from the Survey of Health, Ageing and Retirement in Europe to discriminate between the two motives. We show that both if we consider money transfers from parents to children and time transfers from children to parents, the empirical evidence rejects pure altruism in favor of exchange. This result has important policy implications on the effectiveness of formal care provision as a substitute for informal care and on the impact of taxation on transfers
Life cycle behavior under uncertainty: Essays on savings, mortgages and health
Full text linkDe financiële crisis van 2007-2008 maakt duidelijk dat onzekerheid er toe doet. De sterke daling in aandelen- en huizenprijzen, in combinatie met riskante hypotheekleningen, heeft een grote invloed op de financiële positie van huishoudens. Het doel van dit proefschrift is te achterhalen in welke mate onzekerheid het financiële keuzegedrag van huishoudens beïnvloedt, zoals het spaargedrag en de aanschaf van financiële producten zoals een hypotheek. Wij laten zien dat de onzekerheid omtrent toekomstig beleid met betrekking tot een hervorming van de hypotheekrenteaftrek ervoor zorgt dat huishoudens meer gaan sparen om mogelijke financiële tegenvallers op te vangen. Wij tonen vervolgens aan dat huishoudens die minder kennis hebben van hypotheekleningen, geneigd zijn om een minder riskante hypotheeklening af te sluiten, tenzij zij gebruik maken van een tussenpersoon. Uit een analyse van gedetailleerde belastinggegevens blijkt dat ouderen gemiddeld gezien vermogend zijn, maar hun spaargeld nauwelijks aanspreken, zelfs niet op een zeer hoge leeftijd. Deze bevinding is in tegenspraak met de economische levenscyclustheorie en kan niet worden verklaard door onzekerheid over toekomstige inkomsten of gezondheidsuitgaven. De gezondheidstoestand speelt wel een belangrijke rol om verschillen in besparingen tussen huishoudens te verklaren. Op basis van door mensen zelf ervaren gezondheidstoestand en objectieve gezondheidskenmerken uit medische registers laten wij zien dat gezondheid meer persistent is en sneller afneemt op oudere leeftijd dan kan worden geconcludeerd op basis van enkel gerapporteerde gezondheid. Tot slot tonen wij aan dat in het bijzonder mentale gezondheidsproblemen in combinatie met een ongezonde levensstijl (roken en overgewicht) het risico op langdurige arbeidsongeschiktheid onder zelfstandigen vergroot
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Housing, Savings and Bequests Over the Life Cycle
Full text linkIn the present context of ageing of population and pension system reforms, this thesis aims at answering several research questions concerning wealth accumulation and saving motives of older individuals. Chapter 2 tackles the question of whether individuals view their housing wealth as a vehicle to save for retirement. Chapter 3 investigates the evolution of housing wealth during retirement, and links that to the bequest motive for saving. Chapter 4 leaves the focus on housing and pays full attention to the question of whether individuals save due to a bequest motive. Chapter 5 sticks to the topic of bequests but shifts the perspective from the donor to the receiver, asking how inheritance receipt affects the economic situation of individuals around the retirement age. Several findings come out of the studies contained in this thesis. The main finding is that individuals do not generally view housing wealth as an instrument to save for retirement. Careful analysis suggest that is because individuals tend to view their home as an asset to be passed on to their children. Furthermore, this thesis shows that the bequest motive for saving is specially important at the top of the wealth distribution, that rich individuals tend to rely on inter-vivos transfers to avoid paying inheritance taxes, and that receipt of an unexpected inheritance does not have large effects on labour supply decisions of individuals around the retirement ag
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Search and switching costs
Full text linkThis thesis analyses markets with search and with switching costs. It provides insights in several important issues in search markets, including how loss aversion may affect consumer behavior and firm conduct, and how prices, welfare, and profits may change when an intermediating platform orders sellers based upon the preferences of consumers. The thesis also advances our understanding of what happens in markets with switching costs when firms can make retention offers to potential switchers, and how the first step of partner switch in the marriage market, infidelity, may relate to impatience
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