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Consumption effects of mortgage payment holidays : evidence during the COVID-19 pandemic
Albuquerque, Bruno; Varadi, Alexandra - 2022
We use UK transaction-level data during the Covid-19 pandemic to study whether mortgage payment holidays (PH) can act … as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage … mortgage PH led to higher saving rates for more financially-stable households …
Persistent link: https://www.econbiz.de/10013170081
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Household deleveraging and saving rates : a cross-country analysis
Bouis, Romain - 2021
Historically high household debt in several economies is calling for a deleveraging, but according to some economists, this adjustment can slow GDP growth by weighing on consumption. Using a sample of advanced and emerging market economies, this paper finds evidence of a negative relationship...
Persistent link: https://www.econbiz.de/10012796301
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Has higher household indebtedness weakened monetary policy transmission?
Gelos, Gaston; Grinberg, Federico; Mancini Griffoli, Tommaso - 2019
Has monetary policy in advanced economies been less effective since the global financial crisis because of deteriorating household balance sheets? This paper examines the question using household data from the United States. It compares the responsiveness of household consumption to monetary...
Persistent link: https://www.econbiz.de/10012001512
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The impact of rapid aging and pension reform on savings and the labor supply : the case of China
He, Hui; Ning, Lei; Zhu, Dongming - 2019
We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits. We pick China as a case study since China has...
Persistent link: https://www.econbiz.de/10012009609
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Corporate vulnerabilities in India and banks' loan performance
Lindner, Peter; Jung, Sung Eun - 2014
Persistent link: https://www.econbiz.de/10010479453
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Are low-skill women being left behind? : labor market evidence from the UK
Dabla-Norris, Era; Pizzinelli, Carlo; Rappaport, Jay - 2022
Labor markets in the UK have been characterized by markedly widening wage inequality for lowskill (non-college) women, a trend that predates the pandemic. We examine the contribution of job polarization to this trend by estimating age, period, and cohort effects for the likelihood of employment...
Persistent link: https://www.econbiz.de/10013170024
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Structural changes in Japanese firms : business dynamism in an aging society
Hong, Gee Hee; Ito, Arata; Saito, Yukiko Umeno; Anh Thi … - 2020
The COVID-19 pandemic has posed a serious threat to the survival of Japanese firms, highlighting the importance of understanding how and why firms exit. In this paper, we use a rich firm-level dataset of Japanese firms to document how firm exit patterns have evolved between 2007 and 2017. Firm...
Persistent link: https://www.econbiz.de/10012302043
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Firm size, life cycle dynamics and growth constraints : evidence from Mexico
Misch, Florian; Saborowski, Christian - 2019
This paper examines the variation in life cycle growth across the universe of Mexican firms. We establish two stylized facts to motivate our analysis: first, we show that firm size matters for development by illustrating a close correlation with state-level per capita incomes. Second, we show...
Persistent link: https://www.econbiz.de/10012102218
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Death and taxes : does taxation matter for firm survival?
Cevik, Serhan; Miryugin, Fedor - 2019
This paper investigates the impact of taxation on firm survival, using hazard models and a large-scale panel dataset on over 4 million nonfinancial firms from 21 countries over the period 1995-2015. We find ample evidence that a lower level of effective marginal tax rate improves firms' survival...
Persistent link: https://www.econbiz.de/10012019820
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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