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In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...
Persistent link: https://www.econbiz.de/10003120614
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utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …
Persistent link: https://www.econbiz.de/10010515458
privatization effects on savings in Eastern Europe, with limited evidence of positive savings effects in Latin America. These …
Persistent link: https://www.econbiz.de/10011536201
higher marriage rates and higher divorce rates will be associated with higher savings rates in the presence of economies of … marriage and with lower savings rates in the presence of diseconomies of marriage. In the context of traditional gender roles … traditional gender roles and marital status to understanding cross-country variation in gender differentials in savings behavior …
Persistent link: https://www.econbiz.de/10003997600
negative impact of outward direct investment on IR accumulation is consistent with the recent trend of diverting international … direct investment and IR in the pre- and post-crisis period. The macro-prudential policy tends to complement IR accumulation …
Persistent link: https://www.econbiz.de/10010490278
We use a new dataset on non-resource GDP to examine the impact of commodity price volatility on economic growth in a panel of up to 158 countries during the period 1970-2007. Our main finding is that commodity price volatility leads to a significant increase in non-resource GDP growth in...
Persistent link: https://www.econbiz.de/10009355147
for the future (global savings glut). Low growth is linked to slowing population growth and a declining marginal … efficiency of investment as well as to declining fixed capital investment due to digitalization (secular stagnation). In contrast … stimulate growth. This paralyzed investment and growth in the long term. We show that the ability of banks to extend credit ex …
Persistent link: https://www.econbiz.de/10012124862
simple precautionary savings analysis to more complex economic interactions and it builds the economic intuition for policy …
Persistent link: https://www.econbiz.de/10012597858