cam a22 2 4500 357888561 CHVBK 20200107115709.0 cr ||||||||||| 160307s2016 xxu||||||---- 00 |eng-d (OCoLC)944080286 (IDSSG)000855672 SzZuIDS HSG ger rda Nardi Mariacristina De Verfasser aut The Implications of Richer Earnings Dynamics for Consumption, Wealth, and Welfare Mariacristina De Nardi, Giulio Fella, Gonzalo Paz Pardo Cambridge, MA National Bureau of Economic Research 2016 1 Online-Ressource Text txt rdacontent/ger Computermedien c rdamedia/ger Online-Ressource cr rdacarrier/ger NBER working paper series 21917 21917 (IDSSG)000043070 523018967 Earnings dynamics are richer than those typically used in macro models. This paper provides multiple contributions. First, it proposes a non-parametric way to model rich earnings dynamics that is easy to use in structural models. Second, it constructs a large, synthetic, data set that matches the earnings dynamics of the U.S. tax earnings. Third, it estimates our non-parametric earnings processes using two data sets: the Panel Study of Income Dynamics and our synthetic tax data. Fourth, it compares the implications of our earnings processes to those of a standard AR(1) in a life cycle structural model of savings and consumption. Fella Giulio Verfasser aut Pardo Gonzalo Paz Verfasser aut http://www.nber.org/papers/w21917 Full text for the University of St. Gallen Metadata Rights Reserved ids I noalma ids I IDSSG 100 1- Nardi Mariacristina De Verfasser aut IDSSG 490 0- NBER working paper series 21917 21917 (IDSSG)000043070 523018967 IDSSG 700 1- Fella Giulio Verfasser aut IDSSG 700 1- Pardo Gonzalo Paz Verfasser aut IDSSG 856 -- http://www.nber.org/papers/w21917 Full text for the University of St. Gallen Metadata rights reserved idssg BK020053 XK020053 XK020000 IDSSG HSG HSG ONL HONL000855672