The limits of choice : saving decisions and basic needs in developed countries (eBook, 2013) [WorldCat.org]
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The limits of choice : saving decisions and basic needs in developed countries
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The limits of choice : saving decisions and basic needs in developed countries

Author: Sahra Wagenknecht
Publisher: Frankfur : Campus Verlag, 2013.
Edition/Format:   eBook : Document : GermanView all editions and formats
Summary:
Hauptbeschreibung Wann und warum sparen private Haushalte? Sahra Wagenknecht untersucht in ihrer Dissertation den Zusammenhang von Sparentscheidungen und Grundbedürfnissen in Deutschland und den USA von den 1950er-Jahren bis heute. Ihre zentrale Hypothese lautet, dass der Einkommensanteil der Ausgaben zur Befriedigung von Grundbedürfnissen die entscheidende Erklärungsvariable des individuellen Sparverhaltens  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Wagenknecht, Sahra.
Limits of choice.
Frankfurt : Campus Verlag, [2013]
(OCoLC)859520608
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Sahra Wagenknecht
ISBN: 9783593421117 3593421119
OCLC Number: 861080457
Notes: 3.1.2 Subsistence Consumption in Developing Countries.
Description: 1 online resource (329 pages) : illustrations
Contents: List of Figures; List of Variables and Abbreviations; Introduction; Chapter 1. Stylised Facts of Saving; Paragraph 1.1 Data Sets and Statistical Issues; 1.1.1 Various Saving Aggregates and Their Relationship; 1.1.2 Macroeconomic Data Sources for the U.S. and Germany; 1.1.3 Measurement Problems-Saving Offshore or Saving Out of Realised Capital Gains; 1.1.4 Statistical Revisions; 1.1.5 Microeconomic Data Sources for the U.S. and Germany; Paragraph 1.2 The Historic Path of Saving; 1.2.1 General Trends in the OECD; 1.2.2 Saving in the U.S. and its Various Components. 1.2.3 Saving in Germany and its Various ComponentsParagraph 1.3 Stylised Facts at the Macroeconomic Level; 1.3.1 Real Income; 1.3.2 Growth; 1.3.3 Real Interest Rates; 1.3.4 Inflation; 1.3.5 Unemployment and Social Security Standards; 1.3.6 Demographics; 1.3.7 Inequality; 1.3.8 Institutional Environment; 1.3.9 Persistency; Paragraph 1.4 Stylised Facts at the Microeconomic Level; 1.4.1 Macroeconomic Facts and Microeconomic Distributions; 1.4.2 Saving Rates in Cross-Section; 1.4.3 Current Income, Real and Relative; 1.4.4 Permanent Income; 1.4.5 The Distribution of Financial Wealth. 1.4.6 Growth, Income Fluctuations and the Role of Expectations1.4.7 Uncertainty and Precautionary Saving; 1.4.8 Life-Cycle Patterns of Saving; 1.4.9 Saving Motives; Paragraph 1.5 Summary: Stylised Facts of Saving; Chapter 2. Do Standard Models of Saving Match the Facts?; Paragraph 2.1 The Standard LCPIH; 2.1.1 Basic Ideas of the Standard Approach; 2.1.2 The Modigliani-Diagram; 2.1.3 The Perfect Foresight Model in Discrete Time; 2.1.4 The Perfect Foresight Model in Continuous Time; 2.1.5 The Certainty Equivalent Model; Paragraph 2.2 The Empirical Failure of the Standard Models. 2.2.1 Excess Sensitivity and Excess Smoothness-Ambiguous Results2.2.2 MPC and Income Growth-Wrong Predictions; 2.2.3 Incapability to Explain Saving Rate Differentials; Paragraph 2.3 Refinements: Allowing for Precautionary Saving, Liquidity Constraints and Habit Formation; 2.3.1 Convex Marginal Utility and the Precautionary Motive; 2.3.2 The Technique of Stochastic Dynamic Programming; 2.3.3 The Buffer-Stock Model; 2.3.4 Liquidity Constrained Consumers; 2.3.5 Models Including Habit Formation; Paragraph 2.4 Do the Elaborated Models Perform Better? 2.4.1 Gain in Realism at the Cost of Predictive Power2.4.2 Remaining Deficiencies; Paragraph 2.5 The Optimal Consumption Path-General Remarks; 2.5.1 Hidden Assumptions and Fundamental Flaws; 2.5.2 Arguments of the Utility Function-Wealth as an End in Itself; 2.5.3 A Realistic Time-Horizon; 2.5.4 The Representative Consumer; 2.5.5 Per-period Consumption as a Single Entity; 2.5.6 The Elasticity of Intertemporal Substitution; 2.5.7 The Optimising Procedure-Benefits and Costs; Chapter 3. A New Approach to Saving Behaviour; Paragraph 3.1 Basic Needs and Saving; 3.1.1 The Relative-Income Hypothesis.
Responsibility: Sahra Wagenknecht.

Abstract:

Arguing against the hypothesis that assumes consumers optimize their consumption intertemporally based on their permanent or lifetime income, this title proposes a rule of thumb according to which  Read more...

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