Similar Search Results

Wealth, Credit Conditions and Consumption: Evidence from South Africa

Aron, Janine; Muellbauer, John - Department of Economics, Oxford University - 2011

There is widespread disagreement about the role of housing wealth in explaining consumption. This paper exploits liquid and illiquid wealth time series from household balance sheet data for South Africa, previously constructed by the authors, to explain fluctuations in the ratios of...

Persistent link: https://www.econbiz.de/10009364585

Estimates of Demand for Money and Consumption Functions for the Household Sector in Poland, 1967-1999

Chawluk, Antoni - Department of Economics, Oxford University - 2000

The paper analyses household money demand and consumption. Variables that measure shortage and expectations about its … correction equations. The reported results show that disequilibrium in household sector money holdings has a strong influence on …

Persistent link: https://www.econbiz.de/10010605158

Money demand in the Yugoslavian hyperinflation 1991-1994

Nielsen, Bent - Department of Economics, Oxford University - 2004

Empirical analyses of Cagan`s money demand schedule have broadly speaking suffered from the following problems: (i … of the 1990`s is therefore studied. Two econometric models are presented. First, money, prices and exchange rates are … distribution leads on to the second model of real money and the cost of holding money, rather than the traditional inflation …

Persistent link: https://www.econbiz.de/10010605193

When is a housing market overheated enough to threaten stability?

Muellbauer, John - Department of Economics, Oxford University - 2012

In many countries, house prices are subject to boom/bust cycles and in some these are linked to severe economic and financial instability. Overheating can have both a price and a quantity dimension, but it is likely that they are linked by common drivers. However, much depends on the...

Persistent link: https://www.econbiz.de/10011004234

Tobin Lives: Integrating evolving credit market architecture into flow of funds based macro-models

Muellbauer, John; Duca, John - Department of Economics, Oxford University - 2012

offer new ways of interpreting data on credit, money and asset prices, which are crucial for central banks. …

Persistent link: https://www.econbiz.de/10011004428

Credit, Housing Collateral and Consumption: Evidence from the UK, Japan and the US

Aron, Janine; Muellbauer, John; Murphy, Anthony - Department of Economics, Oxford University - 2010

The consumption behaviour of UK, US and Japanese households is examined and compared using a modern Ando-Modigliani style consumption function. The models incorporate income growth expectations, income uncertainty, housing collateral and other credit effects. These models therefore capture...

Persistent link: https://www.econbiz.de/10008464924

Performance, Promotion, and the Peter Principle.

Fairburn, J.A.; Malcomson, J.M. - Department of Economics, Oxford University - 2000

This paper considers why organizations use promotions, rather than just monetary bonuses, to motivate employees even though this may conflict with efficient assignment of employees to jobs. When performance is unverifiable, use of promotion reduces the incentive for managers to be affected by...

Persistent link: https://www.econbiz.de/10005090683

Money Burning and Stealing in the Laboratory: How Conflicting Ideologies Emerge.

Zizzo, D.J. - Department of Economics, Oxford University - 2000

Three experiments on utility interdependence are discussed. Subjects receive money by betting and possibly by arbitrary … assignments. They can then pay to reduce and, possibly, redistribute the steal money; in one case, only the decisions of a … targeted arbitrarily assigned money; arbitrarily advantaged subjects did not care about how money was gained, and, if stealing …

Persistent link: https://www.econbiz.de/10005047965

Learning by Disinflating

Ellison, Martin; Ellison, Martin; Barnett, Alina - Department of Economics, Oxford University - 2011

Disinflationary episodes are a valuable source of information for economic agents trying to learn about the economy. This paper is especially interested in how a policymaker can themselves learn by disinflating. The approach differs from the existing literature, which typically focuses on...

Persistent link: https://www.econbiz.de/10009364587

Devaluation without common knowledge

Rochon, Celine - Department of Economics, Oxford University - 2006

In an economy with a fixed exchange rate regime that suffers a random adverse shock, we study the strategies of imperfectly and sequentially informed speculators that may trigger an endogenous devaluation before it occurs exogenously. The game played by the speculators has a unique symmetric...

Persistent link: https://www.econbiz.de/10010661412