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China's High Saving Puzzle
Ma, Guonan; Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2013
This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored.
Persistent link: https://www.econbiz.de/10010791521
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Aggregate Savings and External Imbalances in China
Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2012
Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified...
Persistent link: https://www.econbiz.de/10010791526
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North-South Technology Diffusion, Regional Integration, and the Dynamics of the "Natural Trading Partners" Hypothesis
Schiff, Maurice; Wang, Yanling - Institute for the Study of Labor (IZA) - 2004
Based on static analysis, a number of studies argue that forming a RTA is more likely to raise welfare if member countries are "natural trading partners," while other studies claim the opposite. This paper considers the argument from a dynamic viewpoint by examining the impact of trade with...
Persistent link: https://www.econbiz.de/10005703120
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Economic Growth and Political Integration: Estimating the Benefits from Membership in the European Union Using the Synthetic Counterfactuals Method
Campos, Nauro F; Coricelli, Fabrizio; Moretti, Luigi - Institute for the Study of Labor (IZA) - 2014
This paper presents new estimates of the economic benefits from economic and political integration. Using the synthetic counterfactuals method, we estimate how GDP per capita and labour productivity would have behaved for the countries that joined the European Union (EU) in the 1973, 1980s, 1995...
Persistent link: https://www.econbiz.de/10010764596
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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10008632737
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Time series evidence of international output convergence in Mercosur
Camarero, Mariam; Flôres, R.; Tamarit, C. - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005537661
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The Implications of Lower Down Payments on Consumption Volatility
Farr, Christopher; Luengo-Prado, Maria J. - Society for Computational Economics - SCE - 2001
We examine the effects of decreasing down payment requirements on consumption volatility within a model which … consumption becomes more volatile as down payment requirements decrease. This finding is true for both individual and aggregate … consumption, and it is robust to the inclusion of adjustment costs. Transitional dynamics imply that a financial liberalization …
Persistent link: https://www.econbiz.de/10005345569
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Second- and Higher-Order Consumption Functions: A Precautionary Tale
Feigenbaum, James - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005345652
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Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality
Primiceri, Giorgio; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2007
transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable lifecycle … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …
Persistent link: https://www.econbiz.de/10005703321
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An approximate consumption function
Padula, Mario; Salerno, Università di - Society for Computational Economics - SCE - 2006
This notes proposes an approximation to the consumption function in the buffer-stock model. …
Persistent link: https://www.econbiz.de/10005706193