Showing 1 - 10 of 969
This study revisits the Feldstein-Horioka puzzle by investigating the saving-investment nexus through the unit root test, cointegration procedure, unrestricted VAR causality, and dynamic OLS (DOLS). Ten Asia Pacific nations of different level of economic development and financial openness were...
Persistent link: https://www.econbiz.de/10005836186
positive shock of government consumption has an effect on taxes and investment, v) fiscal policy instruments have a high …
Persistent link: https://www.econbiz.de/10009368137
Purpose – Considering the sectoral balance approach of Godley, and focusing only on the two main components of the private sector balance for the U.S. economy (household and non-financial corporate balance), we investigate the relationship between these two sectors, the financial variables,...
Persistent link: https://www.econbiz.de/10008788803
This paper shows the dynamic relationships which the components of Gross Domestic Product (GDP) with direct and indirect taxes. We use a structural vector autoregressive model (SVAR) to examine the effect (temporary or permanent) of taxes on domestic production in Ecuador. The calibration of...
Persistent link: https://www.econbiz.de/10009151552
life-cycle consumption facts; the intuitions behind these three implications constitute novel connections between recent … advances in behavioral economics and prominent ideas in the macro consumption literature. First, expectations-based loss … aversion rationalizes excess smoothness and sensitivity in consumption, the puzzling empirical observation of lagged …
Persistent link: https://www.econbiz.de/10011110628
I examine the effects of fiscal policy actions on private consumption in a yearly panel of sixteen OECD countries …—with expansionary fiscal policy boosting consumption in recessions, having a nil effect on it in normal times or in fiscal stress, and … strongly displacing consumption in mixed states when recession and fiscal stress coincide. This happens because the liquidity …
Persistent link: https://www.econbiz.de/10011258709
consumption and perform towards profitability as a new strategic resource. …
Persistent link: https://www.econbiz.de/10011260017
Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. Latvia's incoming in EU increased the amount of received means from structural...
Persistent link: https://www.econbiz.de/10009367975
-2004 period. Real consumption and investment expenditures, as well as their broadly defined components, are examined. We also test …
Persistent link: https://www.econbiz.de/10005623388
We introduce the notion of continuously invertible volatility models that relies on some Lyapunov condition and some regularity condition. We show that it is almost equivalent to the volatilities forecasting efficiency of the parametric inference approach based on the Stochastic Recurrence...
Persistent link: https://www.econbiz.de/10009147705