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Financial Sector Debt Bias
Luca, Oana - 2016
Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect … financial stability. This paper models and estimates debt bias in the financial sector, and present novel estimates for … investment banks and non-bank financial intermediaries such as finance and insurance companies. We find debt bias to be pervasive …
Persistent link: https://www.econbiz.de/10014408098
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An Anatomy of Credit Booms : Evidence From Macro Aggregates and Micro Data
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10014409056
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Household Debt and Borrower-Based Measures in Finland: Insights from a Heterogeneous Agent Model
Nakamura, Fumitaka - 2023
We analyze the effects of borrower-based macroprudential tools in Finland. To evaluate the efficiency of the tools, we … under two types of borrowing constraints: (i) a loan-to-value (LTV) limit and (ii) a debt-to-income (DTI) limit. When an …
Persistent link: https://www.econbiz.de/10015058844
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Dissecting saving dynamics : measuring wealth, precautionary, and credit effects
Carroll, Chris; Slacalek, Jirka; Sommer, Martin - 2012
We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious 'buffer stock' model of optimal consumption in the presence...
Persistent link: https://www.econbiz.de/10009622528
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The volatility trap : precautionary saving, investment, and aggregate risk
Cherif, Reda; Hasanov, Fuad - 2012
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a ""store-or-sow"" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low investment, or a ""volatility trap."" Namely, big savers...
Persistent link: https://www.econbiz.de/10009615558
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World Saving
Grigoli, Francesco - 2014
This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different...
Persistent link: https://www.econbiz.de/10012678775
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Is Housing Wealth an 'ATM'? The Relationship Between Household Wealth, Home Equity Withdrawal, and Saving Rates.
Klyuev, Vladimir - 2006
Intro -- Contents -- I. INTRODUCTION -- II. HAVE SAVING RATES REALLY FALLEN? -- III. LIKELY IMPACT OF FINANCIAL INNOVATION AND LIBERALIZATION ON HOME EQUITY WITHDRAWAL ( HEW) AND SAVING -- IV. TRENDS IN HEWAND HOUSEHOLD SAVING ACROSS COUNTRIES -- V. HOW DOES HEW AFFECT HOUSEHOLD SAVING? -- VI....
Persistent link: https://www.econbiz.de/10012691040
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Do Debt-Service Savings and Grants Boost Social Expenditures?.
Thomas, Alun H - 2006
Persistent link: https://www.econbiz.de/10012691075
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What Explains Private Saving in Mexico?.
Swiston, Andrew - 2006
Intro -- Contents -- I. INTRODUCTION -- II. GROWTH, SAVING, AND INVESTMENT IN AN EMERGING MARKET ECONOMY -- III. THE MEASUREMENT OF PRIVATE SAVING -- IV. CROSS-COUNTRY EVIDENCE -- V. TIME-SERIES EVIDENCE FOR MEXICO -- VI. MEXICO'S SAVING: WHICH WAY DOES THE CAUSALITY GO? -- VII. CONCLUSIONS --...
Persistent link: https://www.econbiz.de/10012691124
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Who Saves in Ireland? The Micro Evidence.
Moreno-Badia, Marialuz - 2006
Intro -- Contents -- I. INTRODUCTION -- II. WHO SAVES IN IRELAND? -- III. ARE HOUSEHOLD SAVINGS AFFECTED BY CAPITAL … GAINS IN HOUSING? -- IV. THE SPECIAL SAVINGS INCENTIVE ACCOUNTS -- V. CONCLUDING REMARKS -- APPENDIX I -- APPENDIX II …
Persistent link: https://www.econbiz.de/10012691166