Subjective income expectations and income risk
By: by Xavi Ramos, Christian Schluter
Contributors: Schluter, Christian, 1969-
Series: Discussion paper -- no. 1950; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 1950
Publisher: IZA
Published: 2006
Place of publication: Bonn, Germany
Language: eng
Format: [electronic resource] /
Subjects: Income
Description: "In the context of income dynamics, we investigate whether aspects of agents' superior information relative to the econometrician's limited information are captured in subjective expectations data. It is natural, for instance, to assume that the econometrician cannot observe idiosyncratic shocks to both permanent and transitory components of income. In this case perceptions of risk differ between agents and the econometrician. Our tests are based on panel data elicited yearly from British households. We find evidence of superior information consistent with standard income modelling"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Title from PDF file as viewed on 2/10/2006.

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