January 11, 2006

Testing consumers' asymmetric reaction to wealth changes

Consument schrikt van koersverlies

Press release

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Mauro Mastrogiacomo Read more
Dick Morks Read more

This asymmetry, that is found using micro data, suggests that economists should not treat symmetrically the relation between economic variables (consumption for instance) and wealth in their models when wealth decreases. We find that this asymmetry increases with age and picks at retirement.


Mauro Mastrogiacomo Read more