Showing 1 - 10 of 14
According to the life-cycle theory of consumption and saving, foreseeable retirement events should not reduce consumption. Whereas some consumption expenditures may fall when they are self-produced (given higher leisure after retirement), this argument applies especially to housing consumption...
Persistent link: https://www.econbiz.de/10010460493
According to the life-cycle theory of consumption and saving, foreseeable retirement events should not reduce consumption. Whereas some consumption expenditures may fall when they are self-produced (given higher leisure after retirement), this argument applies especially to housing consumption...
Persistent link: https://www.econbiz.de/10008693499
The analysis of the financial cycle and its interaction with the macroeconomy has become a central issue for the design of macroprudential policy since the 2007-08 financial crisis. This paper proposes the construction of financial cycle measures for the US based on a large data set of...
Persistent link: https://www.econbiz.de/10011984251
We investigate the interaction between inequality, leverage and financial crises using bivariate Granger causality tests for a sample of 13 European countries and the United States over the period 1975-2013. We also examine the relevance of other determinants of expansions in credit to income...
Persistent link: https://www.econbiz.de/10011984246
The high degree of persistence in the national inflation differentials of the majority of EMU Member States observed since the introduction of the euro has raised serious concerns among researchers and policy-makers alike. In this paper the main theoretical arguments which explain the existence...
Persistent link: https://www.econbiz.de/10010460447
The high degree of persistence in the national inflation differentials of the majority of EMU Member States observed since the introduction of the euro has raised serious concerns among researchers and policy-makers alike. In this paper the main theoretical arguments which explain the existence...
Persistent link: https://www.econbiz.de/10005241853
In this paper we estimate the relevance of habits versus interpersonal comparisons for the consumption behavior of U.S. households. We exploit information from the recently released consumption expenditure data of the Panel Study of Income Dynamics (PSID) covering the time span from 1999 to...
Persistent link: https://www.econbiz.de/10010460547
In this paper we estimate the relevance of habits versus interpersonal comparisons for the consumption behavior of U.S. households. We exploit information from the recently released consumption expenditure data of the Panel Study of Income Dynamics (PSID) covering the time span from 1999 to...
Persistent link: https://www.econbiz.de/10010944674
countries. Savings rates of private households have increased during the crisis. In order to reduce them various alternatives … investment expenditures and cut back their savings. Fourthly, a redistribution of wealth and income: This strategy leads to a … decrease of average savings rates and an increase of consumption rates of private households. …
Persistent link: https://www.econbiz.de/10010460488
literature. Our findings can also be interpreted in the context of the secular decline in the US personal savings rate before the …
Persistent link: https://www.econbiz.de/10010460494