scholarly journals Leisure and housing consumption after retirement: new evidence on the life-cycle hypothesis

2021 ◽  
Author(s):  
Miriam Beblo ◽  
Sven Schreiber
Keyword(s):  
Life Cycle ◽  
Micro Data ◽  
Housing Consumption ◽  
Aggregate Consumption ◽  
Life Cycle Theory ◽  
Novel Approach ◽  
Negative Impacts ◽  
Lock In ◽  
New Evidence ◽  
Retirement Status

AbstractForeseeable income reductions around retirement should not affect aggregate consumption. However, given higher leisure endowments after retirement, theory also predicts lower consumption of leisure substitutes. To avoid misinterpreting this predicted drop as a puzzle, our novel approach focuses on housing consumption (complementary to leisure in utility) and controls for leisure changes. In Germany tenants represent roughly half of all households, making many housing expenditures directly observable in micro data. We find significant negative impacts of the retirement status on housing consumption, which is hard to reconcile with life-cycle theory. Despite the lock-in nature of past housing decisions, income reductions at retirement have additional – though small – effects on housing.

scholarly journals Consumer Expenditures and Home Production at Retirement – New Evidence from Germany

2010 ◽  
Vol 11 (2) ◽  
pp. 225-245 ◽  
Author(s):  
Melanie Lührmann
Keyword(s):  
Life Cycle ◽  
Time Use ◽  
Marginal Utility ◽  
Home Production ◽  
Significant Drop ◽  
Life Cycle Theory ◽  
Consumer Expenditures ◽  
New Evidence ◽  
Over Time

Abstract This paper investigates consumer expenditures of German households pre- and post-retirement. The widely observed distinct drop in spending upon retirement entry poses an empirical puzzle since life cycle theory predicts smoothing of the marginal utility of consumption over time. As one explanation, I explore the role of home production as a substitute for consumer expenses. Taking a combined look at consumer expenditures and time use pre- and post-retirement, I find a significant drop of about 17% of pre-retirement expenses at retirement which coincides with an increase in time spent on home production of an additional 89 minutes per day, accounting for 21% of average home production.

The Distribution of Households’ Indebtedness and the Transmission of Monetary Policy

2021 ◽  
pp. 1-36
Author(s):  
Fergus Cumming ◽  
Paul Hubert
Keyword(s):  
Monetary Policy ◽  
Monetary Transmission ◽  
Micro Data ◽  
Cross Sectional ◽  
Limited Ability ◽  
Aggregate Consumption ◽  
Novel Approach ◽  
Household Heterogeneity ◽  
Transmission Of Monetary Policy

Abstract We investigate whether the dynamic response of aggregate consumption to monetary policy depends on the distribution of household debt relative to income. Using UK loan-level micro-data, we propose a novel approach to isolate the fraction of households with a limited ability to smooth consumption. By exploiting time and cross-sectional variation, we show that consumption responds more to monetary policy when the share of highly-indebted households is large, but find no state-contingency with respect to the overall level of debt-to-income. Our results highlight the role of household heterogeneity for understanding monetary transmission to aggregate consumption.

scholarly journals Engineering Design Process of Face Masks Based on Circularity and Life Cycle Assessment in the Constraint of the COVID-19 Pandemic

2021 ◽  
Vol 13 (9) ◽  
pp. 4948
Author(s):  
Núria Boix Rodríguez ◽  
Giovanni Formentini ◽  
Claudio Favi ◽  
Marco Marconi
Keyword(s):  
Life Cycle Assessment ◽  
Life Cycle ◽  
Environmental Sustainability ◽  
Design Guidelines ◽  
New Device ◽  
Engineering Design Process ◽  
Life Cycle Perspective ◽  
Different Types ◽  
3D Printed ◽  
Negative Impacts

Face masks are currently considered key equipment to protect people against the COVID-19 pandemic. The demand for such devices is considerable, as is the amount of plastic waste generated after their use (approximately 1.6 million tons/day since the outbreak). Even if the sanitary emergency must have the maximum priority, environmental concerns require investigation to find possible mitigation solutions. The aim of this work is to develop an eco-design actions guide that supports the design of dedicated masks, in a manner to reduce the negative impacts of these devices on the environment during the pandemic period. Toward this aim, an environmental assessment based on life cycle assessment and circularity assessment (material circularity indicator) of different types of masks have been carried out on (i) a 3D-printed mask with changeable filters, (ii) a surgical mask, (iii) an FFP2 mask with valve, (iv) an FFP2 mask without valve, and (v) a washable mask. Results highlight how reusable masks (i.e., 3D-printed masks and washable masks) are the most sustainable from a life cycle perspective, drastically reducing the environmental impacts in all categories. The outcomes of the analysis provide a framework to derive a set of eco-design guidelines which have been used to design a new device that couples protection requirements against the virus and environmental sustainability.

Prices and demand: New evidence from micro data

2005 ◽  
Vol 89 (3) ◽  
pp. 269-274 ◽  
Author(s):  
Daniel T. Slesnick
Keyword(s):  
Micro Data ◽  
New Evidence

Repairing the damage: cleaning up hazardous coal ash can create jobs and improve the environment

2021 ◽  
Author(s):  
Jeremy Richardson ◽  
◽  
Eric Dixon ◽  
Ted Boettner ◽  
Keyword(s):  
Water Pollution ◽  
Air Pollution ◽  
Life Cycle ◽  
Low Income ◽  
Rural Areas ◽  
Coal Ash ◽  
Local Communities ◽  
Work Place ◽  
Communities Of Color ◽  
Negative Impacts

Although coal has powered the nation for generations and today offers well-paying jobs—often the best opportunities in more rural areas—coal negatively affects human health and the environment at every point in its life cycle: when it is mined, processed, transported, burned, and discarded (Freese, Clemmer, and Nogee 2008). Local communities— often low-income communities and/or communities of color—have for decades borne the brunt of these negative impacts, including air pollution, water pollution, and work- place injuries, illnesses, and fatalities.

Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom

2012 ◽  
Vol 50 (2) ◽  
pp. 464-476 ◽  
Author(s):  
Michael Keane ◽  
Richard Rogerson
Keyword(s):  
Human Capital ◽  
Life Cycle ◽  
Optimal Design ◽  
Labor Supply ◽  
Capital Accumulation ◽  
Conventional Wisdom ◽  
Human Capital Accumulation ◽  
Micro Data ◽  
Large Aggregate ◽  
Economic Issues

The response of aggregate labor supply to various changes in the economic environment is central to many economic issues, especially the optimal design of tax policies. Conventional wisdom based on studies in the 1980s and 1990s has long held that the analysis of micro data leads one to conclude that aggregate labor supply elasticities are quite small. In this paper we argue that this conventional wisdom does not hold up to empirically reasonable and relevant extensions of simple life cycle models that served as the basis for these conclusions. In particular, we show that several pieces of conventional wisdom fail in the presence of human capital accumulation or labor supply decisions that allow for adjustment along both the extensive and intensive margin. We conclude that previous estimates of small labor supply elasticities based on micro data are fully consistent with large aggregate labor supply elasticities. (JEL D91, E24, J22)

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