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Re-examining the decline in the US saving rate : the impact of mortgage equity withdrawal

Caporale, Guglielmo Maria; Costantini, Mauro; Paradiso, … - 2012

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may affect the saving rate. We estimate a Vector Error...

Persistent link: https://www.econbiz.de/10009579380

Re-Examining the Decline in the US Saving Rate : The Impact of Mortgage Equity Withdrawal

Caporale, Guglielmo Maria - 2013

Persistent link: https://www.econbiz.de/10013090336

Social security privatization and financial market risk : lessons from US financial history

Burtless, Gary - 2000

hypothetical pensions U.S. workers would have obtained between 1911 and 1999 if they had accumulated retirement savings in … with a new system of mandatory defined-contribution private pensions. Proponents claim that private plans offer better … present in certain types of public retirement system, but a public system has one important advantage over private pensions …

Persistent link: https://www.econbiz.de/10011433577

The effects of pricing waste generation : a synthetic control approach

Bueno, Matheus; Valente, Marica - 2018

To internalize pollution externalities into household waste generation, Unit Pricing Systems (UPS) have been adopted worldwide. This paper evaluates the causal effects of a UPS on the disposal of municipal solid waste in Trento, Italy. To account for policy endogeneity due to unobservables, we...

Persistent link: https://www.econbiz.de/10011847939

Global liquidity, world savings glut and global policy coordination

Belke, Ansgar; Gros, Daniel - 2010

; savings glut ; monetary policy ; policy coordination …

Persistent link: https://www.econbiz.de/10003934687

Did US Consumers 'Save for a Rainy Day' Before the Great Recession?

Anundsen, André K. - 2015

The ‘saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...

Persistent link: https://www.econbiz.de/10013022495

Holes in the Dike : The Global Savings Glut, U.S. House Prices and the Long Shadow of Banking Deregulation

Hoffmann, Mathias - 2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2012. To obtain an ex ante measure of financial liberalization, we focus on the history...

Persistent link: https://www.econbiz.de/10013023109

Attribution Bias in Major Decisions : Evidence from the United States Military Academy

Haggag, Kareem - 2018

Using administrative data, we study the role of attribution bias in a high-stakes, consequential decision: the choice of a college major. Specifically, we examine the influence of fatigue experienced during exposure to a general education course on whether students choose the major corresponding...

Persistent link: https://www.econbiz.de/10012914680

Testing for convergence in stock markets : a non-linear factor approach

Caporale, Guglielmo Maria; Erdogan, Burcu; Kuzin, Vladimir - 2009

This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the...

Persistent link: https://www.econbiz.de/10003889148

Estimating fundamental cross-section dispersion from fixed event forecasts

Dovern, Jonas (contributor); Fritsche, Ulrich (contributor) - 2008

A couple of recent papers have shifted the focus towards disagreement of professional forecasters. When dealing with survey data that is sampled at a frequency higher than annual and that includes only fixed event forecasts, e.g. expectation of average annual growth rates measures of...

Persistent link: https://www.econbiz.de/10003726076