作者：Blundell, Richard; French, Eric
作者单位：University of London; University College London; University of Cambridge
摘要：This discussion comments on Singles, Couples, Time-Averaging, and Taxation by Hans Holter, Lars Ljungqvist, Thomas Sargent, and Serhiy Stepanchuk. This work represents an exciting new agenda, combining recent findings in the dynamic micro labor supply and retirement literature with key features of the macro environment by including general equilibrium feedback and a government budget constraint. We point to some areas where the specification could be improved but these do not detract from the ...
作者：Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, Tullio; Kenny, Geoff
作者单位：University of Glasgow; European Central Bank; University of Naples Federico II; University of Naples Federico II
摘要：We use new euro area representative data from the Consumer Expectations Survey (CES) to elicit household-specific propensities to invest and consume out of positive wealth shocks. Using a randomized assignment of hypothetical lottery gains ranging from 5,000 to 50,000 and a realistic menu of consumption, saving and asset choices, we estimate the causal effect of wealth shocks on risky asset ownership and conditional asset shares. Wealth shocks have a positive effect on stockholding (between 8....
