Liquidity Constraints, Wealth Transfers and Home Ownership
نویسندگان
چکیده
منابع مشابه
Housing Wealth, Liquidity Constraints and College Enrollment
Do liquidity constraints prohibit individuals from making optimal consumption and investment decisions over the life cycle? I test for the existence of short-run credit constraints surrounding the decision to invest in college, which is of particular concern given the large recent increases in the real cost of college attendance. I add to the literature on higher education credit constraints by...
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The role played by parental wealth in facilitating the life chances and living standards of offspring is a topic of growing interest in stratification research. For working and middle class households much of their intervivos transfers to children is provided in the form of assistance with a home purchase. This paper examines the impact of parental wealth and transfers of wealth on several aspe...
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Self-employment and Intergenerational Transfers: Liquidity Constraints or Family Environment? Anne Laferrère and Peter McEntee We examine the determinants of entrepreneurship using data on intergenerational transfers of wealth, education and what we call informal human capital. We are interested in the respective importance of the level of assets which relax liquidity constraints and of an entr...
متن کاملMarket Liquidity and Liquid Wealth
Are securities markets more liquid when the economy is more liquid? If so, why? One possibility is that market depth depends on credit constrained intermediaries. This paper offers another explanation, which does not involve frictions or market segmentation. Measuring market illiquidity by the slope of the representative agent’s demand curve for a risky asset, I show that this slope is steeper ...
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We study economies where some assets play an essential role to nance consumption opportunities but payment arrangements are subject to a moral hazard problem. Agents can produce fraudulent assets at a positive cost, which generates an endogenous upper bound on the quantity of assets that can be exchanged for goods and services. This endogenous liquidity constraint depends on the characteristic...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2839217