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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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Indirect Effects of an Aid Program: The Case of Progresa and Consumption
Angelucci, Manuela; Giorgi, Giacomo De - Institute for the Study of Labor (IZA) - 2006
effects. We exploit the unique design of an aid program's experimental trial to identify its indirect effect on consumption …
Persistent link: https://www.econbiz.de/10005761976
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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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The Dynamics of Market Insurance, Insurable Assets, and Wealth Accumulation
Koeniger, Winfried - Institute for the Study of Labor (IZA) - 2002
in a model with non-durable and durable consumption. The stock of the durable is exposed to risk against which households …-durable consumption. Introducing labor income risk into the model does not necessarily increase the importance of market insurance if the …
Persistent link: https://www.econbiz.de/10005822601
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Real Unit Labour Costs in Eurozone Countries: Drivers and Clusters
Ordóñez, Javier; Sala, Hector; Silva, José I. - Institute for the Study of Labor (IZA) - 2014
asymmetries in the convergence process of the RULCs and its components – real wages, capital intensity, and technology – are … achieving real convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence … factor, and call for a renewed attention to real convergence indicators to strengthen the process of European integration. …
Persistent link: https://www.econbiz.de/10010884247
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Migration Policy, African Population Growth and Global Inequality
Mountford, Andrew; Rapoport, Hillel - Institute for the Study of Labor (IZA) - 2014
According to recent UN projections more than 50 percent of the growth in world population over the next half century will be due to population growth in Africa. Given this, any policy that influences African demography will have a significant impact on the world distribution of income. In this...
Persistent link: https://www.econbiz.de/10010959792
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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focuses on...
Persistent link: https://www.econbiz.de/10010550529