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We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only...
Persistent link: https://www.econbiz.de/10012677576
The purpose of this paper is to examine factors that have constrained South Africa's growth since the end of apartheid 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...
Persistent link: https://www.econbiz.de/10012677704
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
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
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
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
Persistent link: https://www.econbiz.de/10012691075
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
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
Household savings rates in the United States have recently crept up from all-time lows. Some have suggested that a …, our model predicts that such primary savings will increase, but only temporarily and modestly, as household assets … stabilize. As savings flows gradually accumulate, they help rebuild corporate net worth and hence firms' capacity to make capit …
Persistent link: https://www.econbiz.de/10012677868