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This paper considers two central problems in our statistical frameworks which impair the ability to use wealth to … assess economic sustainability or the impacts of economic downturns. Some increases in wealth may reflect increased economic … capacity of the economy. Another major problem in our wealth accounts is the "missing capital" required to explain the marked …
Persistent link: https://www.econbiz.de/10012457340
were impaired in the performance of at least one basic activity. It describes their wealth, living arrangements, and health …
Persistent link: https://www.econbiz.de/10012476740
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This paper reviews theoretical argumrents and empirical evidence regarding the interest elasticity of savings. It … savings. Moreover, the empirical rrethods used in most previous studies are likely to produce underestimates of the … interestelasticity of savings. New evidence based on direct estimation of utility function parameters suggests that savings are likely to …
Persistent link: https://www.econbiz.de/10012477741
China eventually becomes the world's saver and, thereby, the developed world's savoir with respect to its long-run supply of capital and long-run general equilibrium prospects. And, rather than seeing the real wage per unit of human capital fall, the West and Japan see it rise by one fifth by...
Persistent link: https://www.econbiz.de/10012467008
Data for world savings rates do not suggest that an aggregate glut of world savings has depressed US and international … interest rates in recent years. Unusual but offsetting changes in savings rates have been limited to three regions: sharp … increased very little. There are two important features of this change in regional savings behavior. First, three-quarters of …
Persistent link: https://www.econbiz.de/10012467159
OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing …
Persistent link: https://www.econbiz.de/10012461045
The question of what is a sustainable public debt is paramount in the macroeconomic analysis of fiscal policy. This question is usually posed as asking whether the outstanding public debt and its projected path are consistent with those of the government's revenues and expenditures (i.e. whether...
Persistent link: https://www.econbiz.de/10012457095