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Argentina and the World Capital Market : Saving, Investment, and International Capital Mobility in the Twentieth Century

Taylor, Alan M. - 1997

likely" implications for future saving, investment, and international capital flows." …

Persistent link: https://www.econbiz.de/10012472511

Decomposing the Fiscal Multiplier

Cloyne, James S. - 2020

The fiscal "multiplier" measures how many additional dollars of output are gained or lost for each dollar of fiscal stimulus or contraction. In practice, the multiplier at any point in time depends on the monetary policy response and existing conditions in the economy. Using the IMF fiscal...

Persistent link: https://www.econbiz.de/10012481896

The Savings Glut of the Old : Population Aging, the Risk Premium, and the Murder-Suicide of the Rentier

Kopecky, Joseph; Taylor, Alan M. - National Bureau of Economic Research - 2022

pressure on risky returns as high-wealth elderly reallocate away from equities: aging makes retirement saving a "crowded trade …

Persistent link: https://www.econbiz.de/10013191039

International Capital Mobility in History : The Saving-Investment Relationship

Taylor, Alan M. - 1996

-run criteria for capital mobility using time-series and cross-section analysis of saving-investment correlation for twelve …

Persistent link: https://www.econbiz.de/10012473091

Domestic Saving and International Capital Flows Reconsidered

Taylor, Alan M. - 1994

saving and investment rates since the 1960s. According to conventional wisdom, the result provides evidence of international … composition of aggregate demand and its relative price structure, a linkage hitherto ignored in the saving-investment literature … for these effects, the standard correlation of saving and investment disappears. International capital markets may be …

Persistent link: https://www.econbiz.de/10012474015

Capital Flows to the New World as an Intergenerational Transfer

Taylor, Alan M. - 1991

with dual scarcity, labor and capital. The labor supply response to labor scarcity took the form of both immigration and …

Persistent link: https://www.econbiz.de/10012475065

The Time for Austerity : Estimating the Average Treatment Effect of Fiscal Policy

Jordà, Òscar - 2013

After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...

Persistent link: https://www.econbiz.de/10012459247

State-Dependent Local Projections : Understanding Impulse Response Heterogeneity

Cloyne, James; Jordà, Òscar; Taylor, Alan M. - National Bureau of Economic Research - 2023

An impulse response is the dynamic average effect of an intervention across horizons. We use the well-known Kitagawa-Blinder-Oaxaca decomposition to explore a response's heterogeneity over time and over states of the economy. This can be implemented with a simple extension to the usual local...

Persistent link: https://www.econbiz.de/10014226168

Local Projections

Jordà, Òscar; Taylor, Alan M. - National Bureau of Economic Research - 2024

A central question in applied research is to estimate the effect of an exogenous intervention or shock on an outcome. The intervention can affect the outcome and controls on impact and over time. Moreover, there can be subsequent feedback between outcomes, controls and the intervention. Many of...

Persistent link: https://www.econbiz.de/10015056147

Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime

Paolera, Gerardo della - 2000

delinking of gold flows and the money base. Agents perceived a new regime, as shown by the path of consumption, investment, and … external shocks to prices and money. Argentine macropolicy was heterodox in terms of the change of regime, but still …

Persistent link: https://www.econbiz.de/10012471138