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There is now a consensus that economic growth is a dominant determinant of poverty. That is, poverty reduction requires sustained economic growth significantly above the population growth so that per capita income continues to rise. Economic growth raises mean income and reduces the proportion...
Persistent link: https://www.econbiz.de/10009481914
This paper investigates the effects of wealth on consumer spending in the United States. A traditional life-cycle model … is estimated first. Although it does find a statistically significant wealth effect, its findings are unusable due to the … offered. First, wealth is divided into stock market and non-stock market components, second into liquid and illiquid …
Persistent link: https://www.econbiz.de/10009474974
Typescript (photocopy).
Persistent link: https://www.econbiz.de/10009472492
Inflation expectations have been of great interest to economists because they predict how agents in an economy set prices and react to changes in various macroeconomic variables. The existence of Keynesian liquidity traps in Japan and the United States have helped emphasize the importance of...
Persistent link: https://www.econbiz.de/10009468735
Persistent link: https://www.econbiz.de/10009472035
As in Caporale and Pittis, this paper finds significant evidence supporting the hypothesis of long-run equilibrium relationships between inflation rates in countries which participate in the ERM. However, the results differ in several important respects. First, the evidence rejects a dynamic...
Persistent link: https://www.econbiz.de/10009475651
The article explores Ireland's participation in the exchange rate mechanism (ERM) of the European Monetary System since mid-1986. It has been found that membership of the ERM per se did not have the expected moderating influence on interest rates. Ireland's participation in the ERM was intended...
Persistent link: https://www.econbiz.de/10009475701
A number of researchers have recently argued that the new-Keynesian Phillips curve matches the empirical behavior of inflation well when the labor income share is used as a driving variable, but fits poorly when deterministically detrended output is used. The theoretical motivation for these...
Persistent link: https://www.econbiz.de/10009475720
Includes bibliographical references (p. 17).
Persistent link: https://www.econbiz.de/10009477671
Straipsnyje analizuojami BVP ir infliacijos kitimo tempai bei jų įtaka vykdant bendrą pinigų politiką. Nustatyti BVP ir infliacijos tempų skirtumai parodė, kad Ekonominėje ir pinigų sąjungoje (EPS) egzistuoja asimetriniai paklausos bei pasiūlos šokai, kurie lemia tai, kad pinigų...
Persistent link: https://www.econbiz.de/10009478224