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Life Cycle Time Allocation and Saving in an Imperfect Capital Market

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dc.creator Apps, Patricia
dc.creator Rees, Ray
dc.date 2004
dc.date.accessioned 2013-10-16T07:09:39Z
dc.date.available 2013-10-16T07:09:39Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20271
dc.identifier ppn:380019973
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20271
dc.description This paper combines income and expenditure with time use data to provide a unique picture of the time paths of labour supplies, saving and full consumption for two-adult households over the life cycle. These data are used to test the life cycle model presented in the paper, at the core of which is the hypothesis that households face a borrowing interest rate that rises sharply with the amount of non collateral based borrowing. The household members jointly choose time paths of time use, consumption and saving over their life cycle in the face of this capital market imperfection. This model explains the data much better than does the alternative hypothesis of a perfect capital market. Finally, households are shown to differ significantly in their saving behaviour in a way that depends on secondary earner labour supply, with a strong positive association between saving and the secondary earner?s income.
dc.language eng
dc.relation IZA Discussion paper series 1036
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject H31
dc.subject D13
dc.subject D91
dc.subject J2
dc.subject ddc:330
dc.subject saving
dc.subject labour supply
dc.subject imperfect capital market
dc.subject lifecycle
dc.subject Lebensverlauf
dc.subject Arbeitsangebot
dc.subject Sparen
dc.subject Konsumtheorie
dc.subject Zeitallokation
dc.subject Finanzmarkt
dc.subject Unvollkommener Markt
dc.subject Schätzung
dc.subject Australien
dc.title Life Cycle Time Allocation and Saving in an Imperfect Capital Market
dc.type doc-type:workingPaper

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