Non-marketable assets and households' portfolio choices: A case study of Italy

Giraldi, Claudio; Hamaui, Rony; Rossi, Nicola

doi:10.1016/0378-4266(93)90019-a

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1998

1999

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Cited by 2 publications

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“…Il 5 Margherita Russo [ 1990] "Distretti industriali in teoria e in pratica: una raccolta di saggi", pp. 119 Paolo Silvestri [ 1990] " La Legge Finanziaria. V o ce dell'enciclopedia Europea Garzanti", pp.…”

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Asymptotic Prior to Posterior Analysis for Graphical Gaussian Models

Roverato

1999

Studies in Classification, Data Analysis, and Knowledge Organization

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Section: Applicationunclassified

Asymptotic Prior to Posterior Analysis for Graphical Gaussian Models

Roverato

1999

Studies in Classification, Data Analysis, and Knowledge Organization

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“…For empirical evidence on the relationship between non-traded assets and financial portfolios, see e.g. Giraldi, Hamaui and Rossi (1993) and the references therein.…”

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confidence: 99%

Indebtedness and Unemployment: A Durable Relationship

Ellingsen

Holden

1998

SSRN Journal

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Within a simple formal model, we show that there is a link between workers' consumption patterns and their preferred real wage. A large budget share of illiquid durable consumption goods (such as houses and cars) makes workers more willing to accept a low wage in order to reduce the probability of unemployment, but less willing to lower the real wage if labor demand unexpectedly falls. Moreover, as long as durable consumption goods are financed through imperfectly indexed credit, the budget share of illiquid durable goods affects the impact of inflation on the real wage. These predictions are confronted with data from sixteen OECD countries. We find that high household indebtedness lowers the natural rate of unemployment and increases real and nominal wage rigidity.JEL classification: E24, J51, J64.

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Non-marketable assets and households' portfolio choices: A case study of Italy

Cited by 2 publications

References 25 publications

Asymptotic Prior to Posterior Analysis for Graphical Gaussian Models

Asymptotic Prior to Posterior Analysis for Graphical Gaussian Models

Indebtedness and Unemployment: A Durable Relationship

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