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Compared with its U.S. and U.K. counterparts, the Labor Tax Credit (LTC) is likely to have more limited effects on incentives for primary-earners to enter the labor force, because of the smaller size of the credit. Any significant increase in the LTC to strengthen its effect on the still large...
Persistent link: https://www.econbiz.de/10014407669
countries is still lacking. Two demographic extensions of the representative household’s stochastic dynamic optimization problem …
Persistent link: https://www.econbiz.de/10014395881
past gains and losses on investors'' risk aversion. We first present a simple model on how heterogeneous changes in … investors'' risk aversion affect portfolio decisions and stock prices. Second, we empirically show that, when funds'' returns …
Persistent link: https://www.econbiz.de/10014402038
This Selected Issues paper highlights the Philippine growth performance led by the services sector. Average GDP growth is higher in the post-Asian crisis period in the Philippines, while the majority of the Philippines’s regional peers have experienced substantially lower growth in the...
Persistent link: https://www.econbiz.de/10011243155
programs whose aim is to eliminate market constraints predominate those that can be achieved through interpersonal income …
Persistent link: https://www.econbiz.de/10014396379
Based on the economic literature, various policy measures and institutions in the product and labor markets that increase growth and employment are studied. From a cross-country approach, this study finds a significant relationship between Vertical Fiscal Imbalances (VFIs) and fiscal performance...
Persistent link: https://www.econbiz.de/10011244125
This paper develops and tests a model of Japan’s household savings rate, based on the life-cycle hypothesis that the … primary motive for savings is provision for retirement. The paper shows that Japan’s high household savings rate in recent … and life-expectancy effects of an income change, which has initially outweighed the negative combined influence of …
Persistent link: https://www.econbiz.de/10014395990
Household savings behavior in China during the past 30 years has been studied by using econometric models with the time …
Persistent link: https://www.econbiz.de/10014396466
assess the interest rate risk carried by a sample of Indian banks in March 2002. We find evidence of substantial exposure to …
Persistent link: https://www.econbiz.de/10014404135
This paper surveys that state of fiscal transparency in the wake of the current crisis and looks at what can be done to improve it. It examines the relationship between fiscal transparency and fiscal outcomes; reviews progress in promoting greater fiscal transparency over the past decade; considers...
Persistent link: https://www.econbiz.de/10014410215