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Heterogeneity and persistence in returns to wealth

Fagereng, Andreas; Guiso, Luigi; Malacrino, Davide; … - 2018

information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the …

Persistent link: https://www.econbiz.de/10011905850

Financial crises, macroeconomic shocks, and the government balance sheet : a panel analysis

Ruzzante, Matteo - 2018

Government financial assets are increasingly recognized as playing an important role in assessing fiscal sustainability. However, very little research has been done on the dynamics of government financial assets compared to liabilities. In this paper, we investigate the impact of recent...

Persistent link: https://www.econbiz.de/10011852541

A closed form multivariate linear filter

Boadway, Robin W.; Vitek, Francis - 2018

This paper considers the problem of jointly decomposing a set of time series variables into cyclical and trend components, subject to sets of stochastic linear restrictions among these cyclical and trend components. We derive a closed form solution to an ordinary problem featuring homogeneous...

Persistent link: https://www.econbiz.de/10011978601

Information Content of DQAF Indicators : Empirical Entropy Analysis

Mrkaic, Mico - 2010

The study presents an analysis of the information content of IMF’s Data Quality Assessment Framework (DQAF) indicators …. There are significant differences in the quantity of information between DQAF dimensions and sub-dimensions. The most … DQAF indicators do not maximize the amount of information that could be obtained during data ROSC missions. An additional …

Persistent link: https://www.econbiz.de/10014397171

Exchange Rate Movements, Inflation Expectations, and Currency Substitution in Turkey

Scacciavillani, Fabio - 1995

This paper contains an empirical analysis of currency substitution in Turkey: a simple relationship between the share of foreign currency holdings in M2X on one side and movements in the exchange rate or inflation on the other is derived from a two-stage portfolio choice model. This relationship...

Persistent link: https://www.econbiz.de/10014397238

Commodity Windfalls, Polarization, and Net Foreign Assets : Panel Data Evidenceon the Voracity Effect

Bruckner, Markus - 2010

This paper examines the effect that windfalls from international commodity price booms have on net foreign assets in a panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price booms lead to a significant increase in net foreign...

Persistent link: https://www.econbiz.de/10014397619

Inflation and Income Distribution : Further Evidenceon Empirical Links

Bulir, Ales - 1995

This paper examines the effects of inflation and associated financial instability on income distribution. Using both pooled cross country and single country time series models, the level of inflation, inflation variability, and the variability of the nominal exchange rate are shown to impact...

Persistent link: https://www.econbiz.de/10014397959

Consumption Smoothing and Exchange Rate Volatility

Turtelboom, Bart - 1995

This paper analyzes exchange rate behavior in a model where consumers trade goods to diversify shocks to their income. A model with traded and nontraded goods is simulated in a multilateral context based upon historical output correlations for the period 1970–92. Simulation results indicate...

Persistent link: https://www.econbiz.de/10014397963

Relative Prices, Economic Growth and Tax Policy

Sarel, Michael - 1995

This paper examines the role of relative prices in economic growth and the possibility that relative prices are (or can be) partly determined by tax policy. In the opening section, the paper links relative prices to tax policy. Using an extension to a standard model of economic growth, it...

Persistent link: https://www.econbiz.de/10014398005

Predicting Recessions : A New Approach for Identifying Leading Indicators and Forecast Combinations

Kisinbay, Turgut - 2011

This study proposes a data-based algorithm to select a subset of indicators from a large data set with a focus on forecasting recessions. The algorithm selects leading indicators of recessions based on the forecast encompassing principle and combines the forecasts. An application to U.S. data...

Persistent link: https://www.econbiz.de/10014398165