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To own or not to own? : household portfolios, demographics and institutions in a cross-national perspective

Sierminska, Eva; Doorley, Karina - 2013

Using harmonized wealth data and a novel decomposition approach, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that younger households' participation decisions in assets are more responsive...

Persistent link: https://www.econbiz.de/10010212303

The role of demographics in precipitating crises in financial institutions

Macunovich, Diane J. - 2009

There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...

Persistent link: https://www.econbiz.de/10003900319

Knowledge spillovers, ICT and productivity growth

Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cécilia - 2014

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...

Persistent link: https://www.econbiz.de/10010374120

Roots of autocracy

Galor, Oded; Klemp, Marc P. B. - 2017

-colonial autocratic institutions within ethnic groups and the emergence of autocratic institutions across countries. Diversity has … amplified the importance of institutions in mitigating the adverse effects of non-cohesiveness on productivity, while … contributing to the scope for domination, leading to the formation of institutions of the autocratic type. …

Persistent link: https://www.econbiz.de/10011670896

Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises

Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013

We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...

Persistent link: https://www.econbiz.de/10010229932

Intangible knowledge capital and innovation in China

Fleisher, Belton M.; McGuire, William; Smith, Adam Nicholas - 2013

Intangible knowledge capital (IKC) - technology produced by workers but not embodied in them - can offset the "middle income trap" as China exhausts the benefits of international technology transfer. IKC is productivity-enhancing among Chinese enterprises - more so in domestically owned than in...

Persistent link: https://www.econbiz.de/10010224593

Trust, growth and well-being : new evidence and policy implications

Algan, Yann; Cahuc, Pierre - 2013

This survey reviews the recent research on trust, institutions and growth. It discusses the various measures of trust … market and the product market. The last part reviews recent progress to identify how institutions and policies can affect …

Persistent link: https://www.econbiz.de/10009763283

The determinants of China's international portfolio equity allocations

Agarwal, Isha; Gu, Grace Weishi; Prasad, Eswar S. - 2020

We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...

Persistent link: https://www.econbiz.de/10012178659

Private information, human capital, and optimal “home bias” in financial markets

Ehrlich, Isaac; Shin, Jong Kook; Yin, Yong - 2011

By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or "home bias", from what standard finance models predict. Our model ascribes the "bias" to...

Persistent link: https://www.econbiz.de/10009516904

Intangible capital and growth in advanced economies : measurement methods and comparative results

Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cécilia; … - 2012

Persistent link: https://www.econbiz.de/10009569345

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