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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

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

Trade and Domestic Financial Market Reform Under Political Uncertainty; Implications for Investment, Savings, and the Real Exchange Rate

Bhattacharya, Rina - International Monetary Fund (IMF) - 2000

financial liberalization on domestic investment and savings, the current account balance and the real exchange rate, both when …

Persistent link: https://www.econbiz.de/10005248185

Microfinance in Africa; Experience and Lessons From Selected African Countries

Blavy, Rodolphe; Basu, Anupam; Yülek, Murat Â - International Monetary Fund (IMF) - 2004

Based on the experience of selected countries, this paper offers a critical presentation of the development of the microfinance sector in Africa. The paper supports the view that microfinance institutions, especially those engaged in full financial intermediation, complement effectively the...

Persistent link: https://www.econbiz.de/10005263661

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

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

The Savings Trap and Economic Take-Off

Ghosh, Atish R.; Asilis, Carlos M. - International Monetary Fund (IMF) - 1992

determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each … period, result in either of two stable equilibria for the savings rate. At the “good” equilibrium, savings and growth are … individual’s belief about the savings behavior of other agents in the economy. The model implies that fiscal policy or public …

Persistent link: https://www.econbiz.de/10005263787

The Determinants of Stock Market Development in Emerging Economies; Is South Africa Different?

Yartey, Charles Amo - International Monetary Fund (IMF) - 2008

This paper examines the institutional and macroeconomic determinants of stock market development using a panel data of 42 emerging economies for the period 1990 to 2004. The paper finds that macroeconomic factors such as income level, gross domestic investment, banking sector development,...

Persistent link: https://www.econbiz.de/10005263854

Growth, Productivity, and the Rate of Returnon Capital

Chadha, Bankim; Adams, Charles - International Monetary Fund (IMF) - 1992

This paper examines the ability of alternative classes of growth models to explain the historical experience of the U.S. economy. The potential returns to the U.S. from raising its investment rate in terms of both the level and growth rate of future output are then quantified. The long-run...

Persistent link: https://www.econbiz.de/10005263880

Mortgage Market Development, Savings, and Growth

Li, Xiaowei - International Monetary Fund (IMF) - 2001

Jappelli and Pagano (1994) argues that tightening the borrowing constraints in the mortgage markets promotes savings … savings and growth rates to fall. Therefore, for countries with scarce mortgage availability like those in the Middle East …, expanding the mortgage markets to some extent is conducive to savings and growth. …

Persistent link: https://www.econbiz.de/10005263983