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crisis. The paper recommends obligatory private savings at a variable rate where the time path of the savings rate is chosen …
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A number of developing countries have run large and persistent current account deficits in both the late-1970s/early-1980s and in the early-1990s, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and...
Persistent link: https://www.econbiz.de/10005791270
In this paper we analyse the relationship between unemployment and consumption. We study this relationship with panel data on households in five countries: Spain and Italy (the South), and Germany, Britain, and the US (the North). Our empirical results indicate that an increase in the duration...
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between factor- and personal-income distribution are studied in the light of existing analytic results from the precautionary-savings … literature, and by numerical solution experiments. Aggregate savings are an increasing function of non-accumulated income …
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savings, investment, and labour supply in neoclassical models, and to the rate of unemployment in job search models. These …
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We examine the returns from owning cows and buffaloes in rural India. We estimate that when valuing labor at market wages, households earn large, negative average returns from holding cows and buffaloes, at negative 64% and negative 39% respectively. This puzzle is mostly explained if we value...
Persistent link: https://www.econbiz.de/10011083843
relationship between aggregate fertility and household savings. First, we document that parents perceive children as an important … source of old-age support and that in partial equilibrium, increased fertility lowers household savings. Then, we construct … equilibrium effects can substantially overstate the effect of a change in aggregate fertility on households savings. …
Persistent link: https://www.econbiz.de/10011084282