| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4839 |
| DP4839 Do Foreign Investors Care About Labour Market Regulations? | |
| Beata Javorcik; Mariana Spatareanu | |
| 发表日期 | 2005-01-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We calibrate a life-cycle model with uninsurable labour income risk and borrowing constraints to match wealth accumulation and portfolio allocation profiles of direct and indirect stockholders in both taxable and tax-deferred accounts. Tax-deferred accounts generate an increase in wealth accumulation that is larger for wealthier households. Furthermore, while the cost of following a fixed contribution rate over the life cycle is small, the optimal rate can differ substantially across households, and the welfare losses from choosing the wrong one can be substantial. Finally, the welfare gain from having access to a tax-deferred account ranges from less than 0.1% to 11.5%, depending on the preference parameters. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Portfolio choice Tax-deferred accounts Retirement savings Liquidity constraints Uninsurable labour income risk |
| URL | https://cepr.org/publications/dp4839 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533748 |
| 推荐引用方式 GB/T 7714 | Beata Javorcik,Mariana Spatareanu. DP4839 Do Foreign Investors Care About Labour Market Regulations?. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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