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This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period of rapid and significant aging requiring major fiscal...
Persistent link: https://www.econbiz.de/10012767513
We study the evolution of the U.S. current account in a two-country dynamic stochastic endowment model in which a single non-state contingent bond is the only internationally traded asset. The paper focuses on the world `saving glut' as the primary cause of continual deterioration in the current...
Persistent link: https://www.econbiz.de/10012759722
model is based on the theory of exact aggregation. It recognizes explicitly that households with different characteristics …
Persistent link: https://www.econbiz.de/10013247207
savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and …
Persistent link: https://www.econbiz.de/10013117212
consumption and saving are consistent with life-cycle theory. The patterns of consumption and saving across households of … household consumption tracks income closely. and this evidence casts doubt on simple life-cycle theory …
Persistent link: https://www.econbiz.de/10013125763
, the composition of national savings, and the determinants of the evolution of household saving rates. During 2000 …. Corporate savings have surged across Asia during this period, becoming the main component of gross national savings in the … region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving …
Persistent link: https://www.econbiz.de/10013157915
This paper analyzes the determinants of savings in the world economy, and discusses why saving ratios have been so … uneven across countries. A distinction is made between private and government savings, using panel data for 36 countries …, from 1970 to 1992. In particular, it is assumed that government savings are not completely exogenous, and respond to both …
Persistent link: https://www.econbiz.de/10012774937
information from surveys of household spending and saving, reports of savings banks and insurance companies, water and sewer … authorities, and health commissioners to illuminate the connections between household savings and health improvements …
Persistent link: https://www.econbiz.de/10012955931
developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on …
Persistent link: https://www.econbiz.de/10012771719
savings and investments were taxed in an arbitrary and unpredictable way, the credibility of a new regime could not be assumed …
Persistent link: https://www.econbiz.de/10013223610