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Stuck at Home : Housing Demand during the COVID-19 Pandemic
Gamber, William; Graham, James; Yadav, Anirudh - 2022
expenditures allocated to at-home consumption. These changes coincided with a period of rapidly rising house prices. We interpret …
Persistent link: https://www.econbiz.de/10013312258
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Offsets to Compulsory Superannuation : Do People Consciously Choose Their Level of Retirement Saving?
Shanker, Akshay - 2014
Australian employers are obliged by law to make a minimum compulsory contribution as a proportion of salaries into employees' superannuation (pension) funds. Individuals can also make voluntary contributions on top of the compulsory amount. We examine voluntary contributions amongst two groups...
Persistent link: https://www.econbiz.de/10013045571
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Risk Aversion Among Australian Households
Breunig, Robert V. - 2019
) assumption. Using an Euler equation that adjusts for measurement error in consumption data, we estimate the coefficient of …
Persistent link: https://www.econbiz.de/10012889992
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Did Marginal Propensities to Consume Change with the Housing Boom and Bust?
Cho, Yunho; Morley, James; Singh, Aarti - 2023
We extend a widely-used semi-structural model to identify and estimate dynamic consumption elasticities with respect to … driven by higher short-run consumption elasticities for homeowners with low liquid wealth. The change in consumption behavior …
Persistent link: https://www.econbiz.de/10014349434
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Fiscal Policy, Composition of Intergenerational Transfers, and Income Distribution
Alonso-Carrera, Jaime - 2010
In this paper, we characterize the relationship between the initial distribution of human capital and physical inheritances among individuals and the long-run distribution of these two variables. In a model with indivisible investment in education, we analyze how the initial distribution of...
Persistent link: https://www.econbiz.de/10013138656
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Deep Habits, Price Rigidities and the Consumption Response to Government Spending
Jacob, Punnoose - 2014
formation, for the response of private consumption following a positive government spending shock. With 'deep' habits in demand … increasing production. This in turn raises the demand for labor and the real wage rises. Consequently, agents raise consumption … stickiness in a model with deep habits hinders the crowding-in of consumption. If the degree of price stickiness is high enough …
Persistent link: https://www.econbiz.de/10013062274
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Children Matter : Global Imbalances and the Economics of Demographic Transition
Batsuuri, Tsendsuren - 2022
This paper investigates the effect of child dependency on the economy and external imbalances under an asymmetric demographic and productivity transition within a lifecycle model. It embeds dependent children within a two-country model with lifecycle features to examine child dependency’s...
Persistent link: https://www.econbiz.de/10013295892
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Asset Prices and Macroeconomic Outcomes : A Survey
Claessens, Stijn - 2017
This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these...
Persistent link: https://www.econbiz.de/10012942461
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Macroeconomic Implications of Financial Imperfections : A Survey
Claessens, Stijn - 2017
This paper surveys the theoretical and empirical literature on the macroeconomic implications of financial imperfections. It focuses on two major channels through which financial imperfections can affect macroeconomic outcomes. The first channel, which operates through the demand side of finance...
Persistent link: https://www.econbiz.de/10012942465
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Secular Stagnation and Low Interest Rates Under the Fear of a Government Debt Crisis
Kobayashi, Keiichiro - 2020
In this study, we explain the driving forces behind the secular stagnation associated with a persistent decrease in interest rates. To do so, we employ a model that incorporates a crisis risk triggered by an accumulation of government debt. The model shows that the fear of large-scale taxation...
Persistent link: https://www.econbiz.de/10012836117