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"hump" savings. A major difference between this study and previous investigations of this issue is the use of more accurate … savings. This paper suggests the importance of and need for substantially greater research and data collection on … intergenerational transfers. fife-cycle models of savings that emphasize savings for retirement as the dominant form of apical …
Persistent link: https://www.econbiz.de/10012478700
increases in domestic savings rates induce approximately equal increases in domestic rates of investment. New estimates for the … flows than to their short-run behavior. Coefficient estimates based on annual variations in savings and investment are … post-OPEC period 1974-79 imply that each extra dollar of domestic saving increases domestic investment by approximately 85 …
Persistent link: https://www.econbiz.de/10012478160
investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving …
Persistent link: https://www.econbiz.de/10012463130
Foreign direct investment (FDI) is observed to be a predominant form of capital flows to low and middle income … countries with insufficiently developed capital markets. This paper analyzes the problem of channeling domestic savings into … productive investment in the presence of asymmetric information between the managing owners of firms and other portfolio …
Persistent link: https://www.econbiz.de/10012472477
technology of private investment. Government policies that discourage saving might make the Schumpeterian vision of a shift from …
Persistent link: https://www.econbiz.de/10012474022
savings rate on the investment rate, as performed in the literature, are shown to be incorrect tests of the hypothesis of … between current accounts, budget deficits, investment rates and transitory output shocks. It is argued that such a model could … current account and savings equations. Empirical tests of the model for a sample of 18 OECD countries present good evidence …
Persistent link: https://www.econbiz.de/10012476287
This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...
Persistent link: https://www.econbiz.de/10013210052
We show that capital controls have large adverse effects on misallocation, exports and welfare using a dynamic Melitz-OLG model with heterogeneous firms, monopolistic competition, endogenous trade participation and collateral constraints. Static effects increase misallocation by reducing...
Persistent link: https://www.econbiz.de/10014226160
Empirical studies have indicated that the elderly seem to accumulate wealth after retirement, and that the desire to leave bequests is an important determinent of saving behavior, both kinds of results have cast doubt on the validity of the life cycle hypothesis of consumption. In the first part...
Persistent link: https://www.econbiz.de/10012477251
In the presence of overlapping generations, markets are incomplete because it is impossible to engage in risksharing trades with the unborn. In such an environment the government can use a social security system, with contingent taxes and benefits, to improve risksharing across generations. An...
Persistent link: https://www.econbiz.de/10012466465