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Does Openness to International Financial Flows Contribute to Productivity Growth?
Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2008
Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...
Persistent link: https://www.econbiz.de/10005822435
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Why Are Saving Rates of Urban Households in China Rising?
Chamon, Marcos; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2007
of disposable income. We use household-level data to explain why households are postponing consumption despite rapid … income growth. Tracing cohorts over time indicates a virtual absence of consumption smoothing over the life cycle. The age …
Persistent link: https://www.econbiz.de/10005247694
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Income Uncertainty and Household Savings in China
Chamon, Marcos; Liu, Kai; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2010
China's household saving rate has increased markedly since the mid-1990s and the age-saving profile has become U-shaped. Using a panel of urban Chinese households covering 1989-2006, we document a sharp increase in income uncertainty. While the permanent variance of household income was stable,...
Persistent link: https://www.econbiz.de/10008742952
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Global Business Cycles: Convergence or Decoupling?
Kose, M. Ayhan; Otrok, Christopher; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2008
, consumption, and investment – into different factors. These are: (i) a global factor, which picks up fluctuations that are common … globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies … importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups …
Persistent link: https://www.econbiz.de/10005566406
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Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies
Prasad, Eswar - Institute for the Study of Labor (IZA) - 2013
Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...
Persistent link: https://www.econbiz.de/10010885185