Auflistung nach Autor "Steffensen, Mogens"

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    • Consumption and Wage Humps in a Life-Cycle Model with Education 

      Kraft, Holger; Munk, Claus; Seifried, Frank Thomas; Steffensen, Mogens (2015-02-24)
      The observed hump-shaped life-cycle pattern in individuals’ consumption cannot be explained by the classical consumption-savings model. The consensus explanation is that the hump is caused by constraints and unspanned ...

    • Life Insurance Demand under Health Shock Risk 

      Kraft, Holger; Schendel, Lorenz S.; Steffensen, Mogens (2015-06-03)
      This paper studies the life cycle consumption-investment-insurance problem of a family. The wage earner faces the risk of a health shock that significantly increases his probability of dying. The family can buy long-term ...