Showing 1 - 10 of 149
Data revisions and the availability of a longer sample offer the opportunity to reconsider empirical findings that suggest that in the OECD countries national saving responds non-monotonically to fiscal policy. The paper confirms that the circumstance most likely to give rise to a non-monotonic...
Persistent link: https://www.econbiz.de/10004975812
In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that enjoyed a huge and undisputed success. But, since the early 1980s, the life-cycle theory has increasingly come under attack. One reason is the existence of an important...
Persistent link: https://www.econbiz.de/10010854342
We use responses to survey questions in the 2010 Italian Survey of Household Income and Wealth that ask consumers how much of an unexpected transitory income change they would consume. The marginal propensity to consume (MPC) is 48 percent on average. We also find substantial heterogeneity in...
Persistent link: https://www.econbiz.de/10010949159
In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that enjoyed a huge and undisputed success. But, since the early 1980s, the life-cycle theory has increasingly come under attack. One reason is the existence of an important...
Persistent link: https://www.econbiz.de/10010752552
This paper analyses the determinants of public expenditures allocated to investment. We perform welfare analysis in an overlapping generations model with public consumption, public investment, debt and taxes. The optimal public investment share depends positively on the productive contribution...
Persistent link: https://www.econbiz.de/10005666978
Several recent studies suggest that the response of national saving to fiscal policy may be non-linear. In this paper we use two data sets to search for the circumstances in which such non-linear responses may arise: a sample of OECD countries used in previous studies, and sample of developing...
Persistent link: https://www.econbiz.de/10005777489
We search for the circumstances in which the response of national saving to fiscal policy contradicts conventional Keynesian predictions, using data from 18 OECD countries. The data suggest that non-Keynesian effects tend to be associated with large and persistent fiscal impulses. Such responses...
Persistent link: https://www.econbiz.de/10005626753
Data revisions and the availability of a longer sample offer the opportunity to reconsider the empirical findings that suggest that in the OECD countries national saving responds non-monotonically to fiscal policy. The paper confirms that the circumstance most likely to give rise to a...
Persistent link: https://www.econbiz.de/10005750390
Data revisions and the availability of a longer sample offer the opportunity to reconsider the empirical findings that suggest that in the OECD countries national saving responds non-monotonically to fiscal policy. The paper confirms that the circumstance most likely to give rise to a...
Persistent link: https://www.econbiz.de/10005050288
Data revisions and the availability of a longer sample offer the opportunity to reconsider the empirical findings that suggest that in the OECD countries national saving responds non-monotonically to fiscal policy. The paper confirms that the circumstance most likely to give rise to a...
Persistent link: https://www.econbiz.de/10005136574