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Current Account Norms in Natural Resource Rich and Capital Scarce Economies
Araujo, Juliana - 2013
windfalls. Since consumption and investment decisions are optimal, the model also serves to provide current account benchmarks …
Persistent link: https://www.econbiz.de/10013082925
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Demographics, Pension Systems and the Saving-Investment Balance
Chai, Hua - 2019
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10012895118
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External Financing Dependence and Corporate Saving in ASEAN5
Li, Xin - 2021
openness or exchange rate depreciation reduces the average saving rate of industries with low dependence on external funds …
Persistent link: https://www.econbiz.de/10013252059
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How Far is Eastern Europe from Brussels?
Sahay, Ratna; Végh Gramont, Carlos - 2021
The current destination of Central and Eastern European countries—explicitly for some, implicitly for all—is Brussels. The concept of the distance from Brussels is multi-dimensional. One simple measure, not without theoretical and empirical justification, is physical distance. This paper’s...
Persistent link: https://www.econbiz.de/10013212116
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From Transition to Market : Evidence and Growth Prospects
Sahay, Ratna; Végh Gramont, Carlos - 2021
This paper presents evidence on the behavior of output and inflation in the transition economies during 1992–95. A regression analysis explores the differences in output performance across the transition economies during this period. The paper then engages in a numerical, somewhat speculative,...
Persistent link: https://www.econbiz.de/10013212117
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Financial Integration and Macroeconomic Volatility
Kose, Ayhan; Prasad, Eswar; Terrones, Marco - 2021
economies in the 1990s. Second, increasing financial openness is associated with rising relative volatility of consumption, but … volatility of consumption growth relative to that of income growth has increased for more financially integrated developing … only up to a certain threshold. The benefits of financial integration in terms of improved risk-sharing and consumption …
Persistent link: https://www.econbiz.de/10013212317
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Japan's Foreign Assets and Liabilities : Implications for the External Accounts
Colacelli, Mariana; Gautam, Deepali; Rebillard, Cyril - 2021
The composition of Japan's current account balance has changed over time, with an increasing income balance primarily reflecting a growing net foreign asset position and higher corporate saving. A comparison of Japan's income balance with peer countries highlights: (i) relatively high yields on...
Persistent link: https://www.econbiz.de/10013243059
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Four Decades of Terms-of-Trade Booms : Saving-Investment Patterns and a New Metric of Income Windfall
Adler, Gustavo - 2013
We study the history of terms-of-trade booms (during 1970–2012), with a focus on Latin America, through the prisms of a simple metric that quantifies the associated income windfall. We also document saving patterns during these episodes and propose a measure of how much of the income windfall...
Persistent link: https://www.econbiz.de/10013080863
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Balancing Financial Stability and Housing Affordability : The Case of Canada
Matheson, Troy - 2019
Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper utilizes a stylized model of the Canadian economy that includes policymakers with differing objectives-macroeconomic stability, financial stability, and housing affordability....
Persistent link: https://www.econbiz.de/10012864124
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Safe Asset Demand, Global Capital Flows and Wealth Concentration
Kim, Taehoon - 2022
The US economy is often referred to as the “banker to the world,” due to its unique role in supplying global reserve assets and funding foreign risky investment. This paper develops a general equilibrium model to analyze and quantify the contribution of this role to rising wealth...
Persistent link: https://www.econbiz.de/10013306735