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Saving Alberta's Resource Revenues : Role of Intergenerational and Liquidity Funds
Van Den Bremer, Ton - 2016
We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation,...
Persistent link: https://www.econbiz.de/10012979602
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Did US Consumers 'Save for a Rainy Day' Before the Great Recession?
Anundsen, André Kallåk; Nymoen, Ragnar - CESifo - 2015
The ‘saving for a rainy day’ hypothesis implies that households’ saving decisions reflect that they can (rationally … the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … modus operandi is to investigate the ‘saving for a rainy day’ hypothesis by testing (weak) exogeneity of income and …
Persistent link: https://www.econbiz.de/10011278934
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Re-Examining the Decline in the US Saving Rate : The Impact of Mortgage Equity Withdrawal
Caporale, Guglielmo Maria - 2013
In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … affect the saving rate. We estimate a Vector Error Correction (VEC) model including the saving rate, asset prices, equity … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …
Persistent link: https://www.econbiz.de/10013090336
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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 … the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … modus operandi is to investigate the ‘saving for a rainy day' hypothesis by testing (weak) exogeneity of income and …
Persistent link: https://www.econbiz.de/10013022495
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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2021
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the 'Dutch disease' and the 'resource curse', which primarily focuses on...
Persistent link: https://www.econbiz.de/10013315924
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The Pungent Smell of 'Red Herrings' : Subsoil Assets, Rents, Volatility and the Resource Curse
van der Ploeg, Rick; Poelhekke, Steven - 2021
Brunnschweiler and Bulte (2008) provide cross-country evidence that the resource curse is a “red herring” once one corrects for endogeneity of resource exports and allows resource abundance affect growth. Their results show that resource exports are no longer significant while the value of...
Persistent link: https://www.econbiz.de/10013316217
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Infrastructure and Growth: Empirical Evidence
Egert, Balazs; Kozluk, Tomasz; Sutherland, Douglas - CESifo - 2009
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure … investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale … between infrastructure and economic growth. Time-series results reveal a positive impact of infrastructure investment on …
Persistent link: https://www.econbiz.de/10005013038
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Oil Exports and the Iranian Economy
Esfahani, Hadi Salehi - 2009
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10013154686
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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - CESifo - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focuses on...
Persistent link: https://www.econbiz.de/10010540249
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Oil Exports and the Iranian Economy
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - CESifo - 2009
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10008583685