Wealth Accumulation Over the Life Cycle and Precautionary Savings

By M. Cagetti. 2003

506 citations recorded by the source corpus.

Subfields: Accounting, Demography, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/9baf11bfd9d26997f55bf0ea18cbd165e82833b2

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Citations in the corpus

Optimal life cycle asset allocation : understanding the empirical evidence (2003, unknown): “Second, 1See, for instance, Hubbard, Skinner and Zeldes (1995), Carroll (1997), Attanasio, Banks, Meghir and Weber (1999), Gourinchas and Parker (2002), Dynan, Skinner and Zeldes (2002) and Cagetti (2003).”
Life-Cycle Portfolio Choice with Additive Habit Formation Preferences and Uninsurable Labor Income Risk (2003, unknown): “For analyses using similar bequest functions, see, for example, Cocco, Gomes, and Maenhout (2005), Cagetti (2003), Gomes and Michaelides (2005), and Dynan, Skinner, and Zeldes (2004).”
The Effects of Health, Wealth, and Wages on Labour Supply and Retirement Behaviour (2005, background): “subject to a mortality determination equation (4), a health determination equation (5), a wage determination equation (6), and an asset accumulation equation (8).”
Incidental Bequests: Bequest Motives and the Choice to Self-Insure Late-Life Risks (2014, background): “, Gourinchas and Parker, 2002; Cagetti, 2003). In the first stage, all of the parameters that can be identified without using the model are estimated or calibrated. In the second stage, the remaining (4)See Pakes and Pollard (1989), McFadden (1989), and Duffie and Singleton (1993) for the developmen”
Optimal Financial Knowledge and Wealth Inequality (2017, unknown): “Furthermore, the sensitivity of saving to the interest rate can be smaller than in the certainty case (Cagetti, 2003), which may also a ect incentives to invest in knowledge.”
Self-insurance in a life-cycle model of labour supply and savings (2005, background): “By precautionary behavior we mean the behavioral response to uncertainty: in Gourinchas and Parker (2002) precautionary behavior is interpreted as the effect on expected consumption growth, and in Cagetti (2002) precautionary behavior is interpreted as the effect on wealth accumulation.”
The Economic Importance of Financial Literacy: Theory and Evidence (2014, unknown): “A very partial list of the literature discussing new theoretical advances includes Cagetti (2003); Chai, Horneff, Maurer, and Mitchell (2012); DeNardi, French, and Jones (2011); French (2005, 2008); Gourinchas and Parker (2002); Hurst and Aguiar (2005, 2007); and Scholz, Seshadri, and Khitatrakun…”
Precautionary Savings in the Great Recession (2012, background): “The importance of precautionary saving has been documented at the individual and household levels both with reduced form and structural approaches (Carroll and Samwick (1997), Engen and Gruber (2001), Gourinchas and Parker (2002), Cagetti (2003), Giavazzi and McMahon (2012)).”
Why Do the Elderly Save? The Role of Medical Expenses (2009, methodology): “Related methodologies are applied in Cagetti [12] and Epple and Sieg [27]. the same initial conditions.3 Since the data provide health and mortality only during interview years, we simulate it in off-years using our estimated models and Bayes’ Rule.”
Consumer Spending during Unemployment: Positive and Normative Implications (2019, background): “0025 Cagetti (2003) Separation Rate 0.0325 BLS (2014) Number of Periods 240 Table 15: Model Environment Parameters”
The Distribution of Wealth and the Marginal Propensity to Consume (2017, unknown): “Average permanent income growth rates ψes are calculated using the same trajectories as in Cagetti (2003) for those with less than a high school education, a high school degree, and four or more years of college.”
How Important is Discount Rate Heterogeneity for Wealth Inequality? (2007, background): “The government budget constraint is therefore CG +X = w qL L+B: (5)”
WEALTH INEQUALITY: DATA AND MODELS (2005, unknown): “Compared to Quadrini (1999), Cagetti and De Nardi obtain a much better fit of the upper tail of the wealth distribution by endogenizing the firm size distribution.”