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Inflation-indexed bonds are fixed-income securities whose nominal cash flows are adjusted to an inflation index. In … countries where these securities exist, inflation expectations are sometimes estimated as the spread between the nominal yield … the same issuer. However, this indicator known as the break-even rate, may estimate inflation expectations with some …
Persistent link: https://www.econbiz.de/10005022247
Oil prices have fluctuated considerably in the last few years, with major effects on the economy. This paper describes some of the mechanisms by which these fluctuations produce changes in the long-run growth of the economy. In particular, it analyses the effect on productivity, capital stock...
Persistent link: https://www.econbiz.de/10005022309
We present a general equilibrium model of the global oil market, in which the oil price, oil production, and consumption, are jointly determined as outcomes of the optimizing decisions of oil importers and oil exporters. On the supply side the oil market is modelled as a dominant firm – Saudi...
Persistent link: https://www.econbiz.de/10009319265
Saudi Arabia Is The Largest Player In The World Oil Market. It Maintains Ample Spare Capacity, Restricts Investment In Developing Reserves, And Its Output Is Negatively Correlated With Other Opec Producers. While This Behavior Does Not F T Into The Perfect Competition Paradigm, We Show That It...
Persistent link: https://www.econbiz.de/10008497185
The EFF collects detailed information on household assets, debts, income, consumption, and demographic variables. One … the changes in income, asset holdings, and wealth of Spanish households between the end of 2002 and 2005. …
Persistent link: https://www.econbiz.de/10005022300
Empirical evidence shows that fixed exchange rates do not provide more fiscal discipline than flexible regimes, despite the fact that, in priciple, fixing the exchange rate imposes important restrictions on seignoriage revenues. A more detailed analysis of seignoriage allows to explain the...
Persistent link: https://www.econbiz.de/10005155239
of their expectations on future income growth rates: the shadow of unemployment. Using consumption panel data that …
Persistent link: https://www.econbiz.de/10010791506
skipping the imputation methods used by the previous literature to mitigate the significant lack of income and consumption … obtain that durable purchases are a source of insurance with respect to transitory shocks and the effect of family income …
Persistent link: https://www.econbiz.de/10010678680
It is well-known in the literature that income per capita is strongly correlated with the level of democracy across … income to democracy even after controlling for country-specifi c effects. While a positive effect emerges for poor countries …
Persistent link: https://www.econbiz.de/10009197206
Persistent link: https://www.econbiz.de/10000638143