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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 … investment, or a ""volatility trap."" Namely, big savers invest relatively little. In contrast, low volatility of permanent … shocks leads to low precautionary saving and high or low investment, depending on the volatility of temporary shocks …
Persistent link: https://www.econbiz.de/10009615558
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Why Isn't South Africa Growing Faster? A Comparative Approach
Eyraud, Luc - 2009
by comparing its GDP components and its saving and investment performance with those of 10 faster-growing countries. The … study finds that sluggish investment has undermined growth since 1996 and that the underinvestment is in part explained by … limited saving. Thus, over the last decade, interactions between investment, saving, and production may have perpetuated slow …
Persistent link: https://www.econbiz.de/10012677704
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Global Aging and Declining World Interest Rates
Hoffmaister, Alexander W. - 2008
How will the world-wide decline in real interest rates associated with global aging affect small open economies (SOEs) with aging populations? Lower interest rates will result in higher capital-labor ratios and increased wages; higher wages, in turn, will be passed on to pension benefits,...
Persistent link: https://www.econbiz.de/10012677583
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Perspectives on High Real Interest Rates in Turkey
Kannan, Prakash - 2008
The Turkish economy is typically characterized as having particularly high real interest rates. Fundamental considerations, such as high growth rates or high returns to capital, do not provide a satisfactory resolution of this puzzle. Instead, we find that two other factors- doubts about the...
Persistent link: https://www.econbiz.de/10012677682
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Perspectives on Low Global Interest Rates.
Catão, Luis - 2006
Intro -- Contents -- I. INTRODUCTION -- II. SOME HISTORICAL PERSPECTIVE -- III. SIMPLE ANALYTICS OF GLOBAL INTEREST RATE DETERMINATION -- IV. AN ASSET-PRICING PERSPECTIVE -- V. ECONOMETRIC EVIDENCE -- VI. CONCLUSIONS -- APPENDIX I. THEORETICAL FRAMEWORK -- REFERENCES.
Persistent link: https://www.econbiz.de/10012691062
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Testing Real Interest Parity in Emerging Markets.
Banerjee, Abhisek - 2006
Persistent link: https://www.econbiz.de/10012691184
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Who Saves in Ireland? T+L3251he Micro Evidence
Badia, Marialuz Moreno - International Monetary Fund (IMF) - 2006
households at the peak of their working lives have relatively low savings though there is no evidence of a generational savings … savings and housing capital gains. …
Persistent link: https://www.econbiz.de/10005263766
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Is Housing Wealth An 'ATM'? the Relationship Between Household Wealth, Home Equity withdrawal, and Saving Rates
Klyuev, Vladimir; Mills, Paul S. - International Monetary Fund (IMF) - 2006
This paper examines the role increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the personal saving rate in the United States. It does so by comparing the U.S. experience with those of Australia, Canada, and the United Kingdom. Mortgage market liberalization...
Persistent link: https://www.econbiz.de/10005263776
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Perspectiveson Low Global Interest Rates
Catão, Luis; Mackenzie, G. A. - International Monetary Fund (IMF) - 2006
This paper looks at the dramatic decline in global real interest rates in recent years from a historical perspective and examines the various factors that may account for this trend. We show that current levels of real interest rates on long-term bonds in advanced economies are not low by...
Persistent link: https://www.econbiz.de/10005264143
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Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country
Iwata, Shigeru; Feltenstein, Andrew - International Monetary Fund (IMF) - 2002
so by analyzing Pakistan's National Savings Scheme (NSS). The NSS has a number of unusual attributes, and its impact upon …
Persistent link: https://www.econbiz.de/10005826075