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The U.S. Public Debt : Implications for Growth
Asilis, Carlos M. - 1994
The increase in the U.S. public debt over the past twelve years raises questions about its implications for investment and economic growth. This paper places these developments within an international and historical context and quantitatively examines the implications of various measures of the...
Persistent link: https://www.econbiz.de/10014396152
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Government Debt, Life-Cycle Income and Liquidity Constrains : Beyond Approximate Ricardian Equivalence
Symansky, Steven A. - 1996
Evans (1991) has demonstrated that Blanchard’s (1985) finite-horizon model obeys approximate Ricardian equivalence. We show that this result is determined largely by an unrealistic assumption that labor income grows monotonically over a consumer’s entire lifetime. Introducing more realistic...
Persistent link: https://www.econbiz.de/10014395872
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Life-Cycles, Dynasties, Savings : Implications for Closed and Small, Open Economies
Faruqee, Hamid - 2000
This paper examines the macroeconomic implications of life-cycle and dynastic saving behavior for closed and small, open economies. Using an extended version of Blanchard’s overlapping agents model, the analytical framework nests these two competing views, treating agents as either dynastic...
Persistent link: https://www.econbiz.de/10014399666
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Sovereign Debt Markets in Turbulent Times : Creditor Discrimination and Crowding-Out
Broner, Fernando - 2013
In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,...
Persistent link: https://www.econbiz.de/10014394354
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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 rich and the Great Recession
Bakker, Bas B.; Felman, Joshua - 2014
Persistent link: https://www.econbiz.de/10010479444
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The U.S. personal saving rate
Ouliaris, Sam; Rochon, Céline - 2018
This paper develops a time series model for aggregate consumption to predict the U.S. personal saving rate. It then uses the model to test whether there has been a structural break in consumption behavior because of the 2008 financial crisis. Before the crisis, the personal saving rate was...
Persistent link: https://www.econbiz.de/10011866407
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Tax Policy and National Savings in the United States: A Survey
International Monetary Fund - 1988
This paper explores how tax policy affects the level and allocation of national savings in the United States. It argues … composition of savings and investment. The paper suggests various specific tax measures that would not only raise government … revenue but also enhance the efficiency of savings and investment …
Persistent link: https://www.econbiz.de/10014395849
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National Savings and Targets for the Federal Budget Balance in the United States
International Monetary Fund - 1989
The U.S. national savings rate has declined in the 1980s, with both public and private components falling. This paper … discusses that decline and whether a policy response is needed. The drop in the private savings rate appears to reflect factors … national savings. Illustrative calculations based on two alternative frameworks indicate that a net national saving rate …
Persistent link: https://www.econbiz.de/10014395902
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Ricardian Equivalence and National Saving in the United States
International Monetary Fund - 1988
This paper examines the relative efficacy of cuts in government spending on goods and services and increases in taxation as tools for augmenting national saving--an issue related to Ricardian equivalence. The theoretical analysis shows little presumption in favor of spending cuts for this...
Persistent link: https://www.econbiz.de/10014396058