Showing 1 - 10 of 41
Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...
Persistent link: https://www.econbiz.de/10008727755
In this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively...
Persistent link: https://www.econbiz.de/10010886828
Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in which housing price changes work as a wealth effect. In such models, windfall gains in housing always lead to positive changes in consumption. However, this might constitute a...
Persistent link: https://www.econbiz.de/10010956068
Based on Panel Study of Income Dynamics (PSID) and Consumer Expenditure Survey (CEX), the author presents evidence that the rise of income/consumption inequality over the past decades is more significant among younger households. This is consistent with the theory that the secular rise of...
Persistent link: https://www.econbiz.de/10010956091
This analysis provides evidence for the costs housing crises induce in terms of GDP growth and under what circumstances these crises are particularly costly. Housing crises are often followed by recessions that are longer and deeper than other recessions. According to empirical estimates,a...
Persistent link: https://www.econbiz.de/10005258422
This paper studies the remittances' effect on economic growth. Using panel data techniques, the authors estimate several specifications to provide support of such relationship for MENA countries over the period 1980-2009. The findings provide new robust evidence on how remittances are used in...
Persistent link: https://www.econbiz.de/10009646511
The paper investigates by means of cointegration analysis whether the recently observed low levels of private saving and the current account balance in the United States are worrisome in the sense that they cannot be sufficiently explained by determinants which performed well in the past. Stock...
Persistent link: https://www.econbiz.de/10005818865
The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less inflationary are government spending shocks and vice versa. Moreover, on impact output is higher but exhibits...
Persistent link: https://www.econbiz.de/10008805609
Little is known about the drivers of migrant donations to their home countries. Using data on all donations from Filipino migrants administered by the Philippine Commission on Filipinos Overseas between 1990 and 2010, this paper explores which host and home country factors are associated with...
Persistent link: https://www.econbiz.de/10010886908
Donations by migrants to community projects in their home countries (“collective remittances”) help to provide local public goods and may promote economic development. We draw on the literatures on migrant remittances and on philanthropy in general to identify possible motives for collective...
Persistent link: https://www.econbiz.de/10010886969