Identifikation von Sparprofilen im Lebenszyklus
A key element of houshold behavior, saving is still not satisfactorily understood. The seminal lif-cycle theory of saving by Modigliani et al has been augmented by the consideration of liquidity constraints, mortality, morbidity, income, interest, and other uncertaities, and, more recently, by behavioral elements. Each of these amendments explains part of saving behavior. However, contradictions remain widespread. This paper poses the question in how far observable age-saving profiles can identify competing theories of saving behavior. The paper departs from the age-saving profiles observed in Germany and compares them with age-saving profiles that were simulated using different variants of augmented life-cycle saving theories. It shows that age-saving profiles per se cannot separate competing theories of saving behavior. This means that the estimations of Euler-equation are not identified.
|Date of creation:||01 Apr 1997|
|Date of revision:|
|Note:||Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.|
|Contact details of provider:|| Postal: |
Phone: (49) (0) 621-292-2547
Fax: (49) (0) 621-292-5594
Web page: http://www.sfb504.uni-mannheim.de/
More information through EDIRC
Web page: http://www.sfb504.uni-mannheim.de
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:xrs:sfbmaa:97-01. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carsten Schmidt)The email address of this maintainer does not seem to be valid anymore. Please ask Carsten Schmidt to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.