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On the Causality Between Saving and Growth: Long- and Short-Run Dynamics and Country Heterogeneity

Andersson, Björn - 1999

. Saving and GDP are estimated in bivariate vector autoregressive or vector error-correction models for Sweden, UK, and USA …

Persistent link: https://www.econbiz.de/10010321740

Housing Mobility and Downsizing at Older Ages in Britain and the United States

Banks, James W. - 2010

This paper investigates the effects of housing price risk on housing choices over the life-cycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...

Persistent link: https://www.econbiz.de/10013138268

Like Mother, Like Child? The Rise of Women's Intergenerational Income Persistence in Sweden and the United States

Brandén, Gunnar; Nybom, Martin; Vosters, Kelly - 2023

We show how intergenerational mobility has evolved over time in Sweden and the United States since 1985, focusing on … substantially over recent decades in both Sweden and the US, while the more predominantly studied father-son measures remained … in the US relative to Sweden. We develop a model to quantify the relative roles of parent human capital, employment, and …

Persistent link: https://www.econbiz.de/10014344618

The Taylor Rule: A Spurious Regression?

Österholm, Pär - 2003

processes, cointegration is a necessary condition both for consistent estimation of the parameters of the model and … compatibility between the model and the data. Tests find little support for cointegration and, together with an out …-of-sample forecast exercise, suggest that we should have serious doubts about the Taylor rule as a reasonable description of how monetary …

Persistent link: https://www.econbiz.de/10010321545

House Price Responses to Monetary Policy Surprises : Evidence from the U.S. Listings Data

Gorea, Denis; Kryvtsov, Oleksiy; Kudlyak, Marianna - 2022

Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response. We exploit information contained in listings for the residential properties for sale in the...

Persistent link: https://www.econbiz.de/10013403143

Spurious correlation in estimation of the health production function: A note

Akkoyunlu, Sule; Lichtenberg, Frank R.; Siliverstovs, Boriss - 2009

In this paper, we address the issue of spurious correlation in the production of health in a systematic way. Spurious correlation entails the risk of linking health status to medical (and nonmedical) inputs when no links exist. This note first presents the bounds testing procedure as a method to...

Persistent link: https://www.econbiz.de/10010315553

Forward Guidance and Household Expectations

Coibion, Olivier - 2020

We compare the causal effects of forward guidance communication about future interest rates on households' expectations of inflation, mortgage rates, and unemployment to the effects of communication about future inflation in a randomized controlled trial using more than 25,000 U.S. individuals...

Persistent link: https://www.econbiz.de/10012840991

Fiscal Policy and Households' Inflation Expectations : Evidence from a Randomized Control Trial

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2021

Rising government debt levels around the world are raising the specter that authorities might seek to inflate away the debt. In theoretical settings where fiscal policy "dominates" monetary policy, higher debt without offsetting changes in primary surpluses should lead households to anticipate...

Persistent link: https://www.econbiz.de/10013246033

Seeing inside the black box: Using diffusion index methodology to construct factor proxies in largescale macroeconomic time series environments

Armah, Nii Ayi; Swanson, Norman R. - 2011

In economics, common factors are often assumed to underlie the co-movements of a set of macroeconomic variables. For this reason, many authors have used estimated factors in the construction of prediction models. In this paper, we begin by surveying the extant literature on diffusion indexes. We...

Persistent link: https://www.econbiz.de/10010282831

Diffusion index models and index proxies: Recent results and new directions

Armah, Nii Ayi; Swanson, Norman - 2011

Diffusion index models have received considerable attention from both theoreticians and empirical econometricians in recent years. One reason for this is that datasets with many variables are increasingly becoming available and being utilized for economic modelling, and another is that common...

Persistent link: https://www.econbiz.de/10010282837