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Low-skilled labor migration in Tajikistan : determinants and effects on expenditure patterns

Meier, Kristina - 2014

It is often assumed that international labor migration from Tajikistan, while having no noticeable effects on … the migration decision is developed and tested empirically. In a second step, the effect of low-skilled labor migration on … household expenditure shares is analyzed using 2SLS. While only weak effects of migration measured by a simple dummy are visible …

Persistent link: https://www.econbiz.de/10010457933

Unconventional fiscal policy in HANK

Seidl, Hannah; Seyrich, Fabian - 2021 - This version: August 10, 2022

We show that in a New Keynesian model with household heterogeneity, fiscal policy can be a perfect substitute for monetary policy: three simple conditions for consumption taxes, labor taxes, and the government debt level are sufficient to induce the same consumption and labor supply of each...

Persistent link: https://www.econbiz.de/10013342046

Unconventional fiscal policy in HANK

Seidl, Hannah; Seyrich, Fabian - 2021

In HANK, we show that fiscal policy is an appropriate macroeconomic stabilization tool at the ZLB. Fiscal policy achieves the same macroeconomic aggregates and the same welfare as hypothetically unconstrained monetary policy by replicating its transmission mechanism. Consumption taxes and labor...

Persistent link: https://www.econbiz.de/10012549562

Do Google searches help in nowcasting private consumption? : a real-time evidence for the US

Cholodilin, Konstantin Arkadʹevič; Podstawski, Maximilian - 2010

In this paper, we investigate whether the Google search activity can help in nowcasting the year-on-year growth rates of monthly US private consumption using a real-time data set. The Google-based forecasts are compared to those based on a benchmark AR(1) model and the models including the...

Persistent link: https://www.econbiz.de/10003958670

Consumption, wealth, stock and housing returns : evidence from emerging markets

Caporale, Guglielmo Maria; Souza, Ricardo M. - 2011

In this paper, we show, using the consumer's budget constraint, that the residuals of the trend relationship among consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for a panel of 31 emerging economies and find that,...

Persistent link: https://www.econbiz.de/10009579641

Are stock and housing returns complements or substitutes? : evidence from OECD countries

Caporale, Guglielmo Maria; Souza, Ricardo M. - 2011

In this paper we use a representative consumer model to analyse the equilibrium relation between the transitory deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for both stock returns and housing returns. The evidence...

Persistent link: https://www.econbiz.de/10009579643

Confronting the representative consumer with household-size heterogeneity

Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - 2010

the poor: once expenditures for subsistence needs are subtracted from disposable household income, household …

Persistent link: https://www.econbiz.de/10009262082

Forecasting private consumption by consumer surveys

Dreger, Christian; Cholodilin, Konstantin Arkadʹevič - 2010

Survey-based indicators such as the consumer confidence are widely seen as leading indicators for economic activity, especially for the future path of private consumption. Although they receive high attention in the media, their forecasting power appears to be very limited. Therefore, this paper...

Persistent link: https://www.econbiz.de/10009267838

The relationship between healthcare expenditure and disposable personal income in the US states : a fractional integration and cointegration analysis

Caporale, Guglielmo Maria; Cuñado Eizaguirre, Juncal; … - 2015

This study examines the relationship between healthcare expenditure and disposable income in the 50 US states over the period 1966-2009 using fractional integration and cointegration techniques. The degree of integration and nonlinearity of both series are found to vary considerably across...

Persistent link: https://www.econbiz.de/10011280006

Dynamics and drivers of consumption and multidimensional poverty : evidence from rural Ethiopia

Brück, Tilman; Kebede, Sindu Workneh - 2013

This study aims to explore poverty measures, its dynamics and determinants using Multidimensional Poverty Index (MPI) and consumption poverty. Our results show that the two measures assign similar poverty status to about 52 percent of households and that both approaches confirm poverty is mainly...

Persistent link: https://www.econbiz.de/10009724818