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Elderly Entitlements and Wealth Inequality
(Private Enterprise Research Center, Texas A&M University, 2022-12-21)
By most measures, wealth inequality has risen significantly over the last three decades and is a growing concern. However, standard wealth definitions require that individuals possess a legal claim to assets included as ...
Portfolio Choice in the Model of Expected Utility with a Safety-First Component
(Private Enterprise Research Center, Texas A&M University, 2020-10-14)
Whereas the majority of economists interpret risk as dispersion or variation in an outcome variable, many everyday decision makers tend to associate risk with the outcome failing to meet a certain “safety� level. In ...
Coronavirus Economics: The Impact of Shutting Down Meatpacking Plants
(Private Enterprise Research Center, Texas A&M University, 2020-06-25)
Motivated by the observed beef and livestock market impacts of coronavirus-caused meatpacking plant shutdowns, this paper constructs a theoretical model to study the effects of closures among downstream producers on both ...
Does the Elderly's Private Pension Ownership Intensify Aggregate Equity Demand? Empirical Evidence in the U.S.
(Private Enterprise Research Center, Texas A&M University, 2022-07-05)
In this paper, the authors investigate how the old generation income structure affects aggregate equity purchases, using Flows of Funds Accounts and Survey of Consumer Finances. Results suggest that the risk aversion that ...