Narrow search
Showing 1 - 10 of 2,178
Cover Image
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
Cover Image
Savings, Growth and Capital Markets Imperfections : The Case of Borrowing Constraints
De Gregorio, Jose - 1993
This paper studies the effects that borrowing constraints have on savings and growth and argues that, though they … increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as … savings, investment, human capital accumulation and growth performance for industrialized countries is presented. A simple …
Persistent link: https://www.econbiz.de/10014398466
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
Dissecting Saving Dynamics : Measuring Wealth, Precautionary, and Credit Effects
Carroll, Christopher - 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...
Persistent link: https://www.econbiz.de/10014395705
Cover Image
Fading Ricardian equivalence in ageing Japan
Saito, Ikuo - 2016
Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility that an increasing number of households are liquidity constrained. If these...
Persistent link: https://www.econbiz.de/10011715428
Cover Image
The Liquidation of Government Debt
2015 - Reinhart, Carmen ; Sbrancia, M. Belen ed
the time during 1945�1980. Average annual interest expense savings for a 12�country sample range from about 1 to 5 percent …
Persistent link: https://www.econbiz.de/10014411918
Cover Image
Has Inventory Investment Been Liquidity-Constrained? : Evidence From U.S. Panel Data
Kim, Yungsan - 2001
Based on an analysis of high-frequency panel data for U.S. firms, this paper finds that inventory investment has been liquidity-constrained in most periods during 1975-97, but less so, or not at all, during recessions. This result can be justified on the grounds that inventory fluctuations are...
Persistent link: https://www.econbiz.de/10014399956