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Why are Saving Rates of Urban Households in China Rising?
Chamon, Marcos; Prasad, Eswar - National Bureau of Economic Research (NBER) - 2008
From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to about one quarter of disposable income. We use household-level data to explain why households are postponing consumption despite rapid income growth. Tracing cohorts over time indicates a virtual...
Persistent link: https://www.econbiz.de/10005710617
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Borrowing Constraints and Consumption Behavior in Japan
Horioka, Charles Yuji; Wakabayashi, Midori - National Bureau of Economic Research (NBER) - 2005
In this paper, we use Japanese micro data to examine what characteristics borrowing-constrained households have and whether borrowing constraints have an important influence on household consumption behavior. We identify borrowing-constrained households using three different indicators, some of...
Persistent link: https://www.econbiz.de/10005777955
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Understanding the mechanisms of economic development
Deaton, Angus - National Bureau of Economic Research (NBER) - 2010
I argue that progress in understanding economic development (as in other branches of economics) must come from the investigation of mechanisms; the associated empirical analysis can usefully employ a wide range of experimental and non-experimental methods. I discuss three different areas of...
Persistent link: https://www.econbiz.de/10008624612
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Financial Frictions and the Persistence of History: A Quantitative Exploration
Buera, Francisco J.; Shin, Yongseok - National Bureau of Economic Research (NBER) - 2010
neoclassical growth model. Investment rates and total factor productivity start out low and rise over time. These model dynamics …
Persistent link: https://www.econbiz.de/10008680925
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Does Home Owning Smooth the Variability of Future Housing Consumption?
Sinai, Todd; Paciorek, Andrew - National Bureau of Economic Research (NBER) - 2010
We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...
Persistent link: https://www.econbiz.de/10008727860
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Can Owning a Home Hedge the Risk of Moving?
Sinai, Todd; Souleles, Nicholas S - National Bureau of Economic Research (NBER) - 2009
Conventional wisdom holds that one of the riskiest aspects of owning a house is the uncertainty surrounding its sale price, especially if one moves to another housing market. However, households who sell a house typically buy another house, whose purchase price is also uncertain. We show that...
Persistent link: https://www.econbiz.de/10008624605
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Missallocation and Financial Frictions: Some Direct Evidence From the Dispersion in Borrowing Costs
Gilchrist, Simon; Zakrajsek, Egon; Sim, Jae W. - National Bureau of Economic Research (NBER) - 2012
Financial frictions distort the allocation of resources among productive units--all else equal, firms whose financing choices are affected by such frictions face higher borrowing costs than firms with ready access to capital markets. As a result, input choices may differ systematically across...
Persistent link: https://www.econbiz.de/10010969203
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Self-Selection into Credit Markets: Evidence from Agriculture in Mali
Karlan, Dean; Udry, Christopher; Beaman, Lori; … - National Bureau of Economic Research (NBER) - 2014
, thus showing that liquidity constraints bind with respect to agricultural investment. In loan-villages, we gave grants to a … grants. Thus we find important heterogeneity in returns to investment and strong evidence that farmers with higher marginal … returns to investment self-select into lending programs. …
Persistent link: https://www.econbiz.de/10010969288
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Agricultural Decisions after Relaxing Credit and Risk Constraints
Karlan, Dean; Udry, Christopher; Osei, Robert Darko; … - National Bureau of Economic Research (NBER) - 2012
The investment decisions of small‐scale farmers in developing countries are conditioned by their financial environment …. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. We … leads to significantly larger agricultural investment and riskier production choices in agriculture. The binding constraint …
Persistent link: https://www.econbiz.de/10010969291
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Financial Development in 205 Economies, 1960 to 2010
Demirguc-Kunt, Asli; Levine, Ross; Čihák, Martin; … - National Bureau of Economic Research (NBER) - 2013
This paper describes our construction of the Global Financial Development Database and uses the data to compare financial systems around the world. The database provides information on financial systems in 205 economies over the period from 1960 to 2010 and includes measures of (1) size of...
Persistent link: https://www.econbiz.de/10010969344