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We consider the demand for state-contingent claims, in the presence of an independent zero-mean, non-hedgeable background risk. An agent is defined to be generalized risk averse if he/she chooses a demand function for contingent claims with a smaller slope everywhere, given a simple increase in...
Persistent link: https://www.econbiz.de/10009471661
sources of income and classification. There are also presented two main functions of disposable income (consumption and saving …
Persistent link: https://www.econbiz.de/10009479225
While earlier empirical studies found a negative saving effect of old-age dependency rates without considering … determining saving and growth by using a growth model that encompasses both neoclassical and endogenous growth models as special … dependency effect is negative in savings and investment regressions. The estimates indicate that the differences in the …
Persistent link: https://www.econbiz.de/10009479534
The topic of outsourcing ranks at the top of business issues for a wide variety of companies (Wery, 2004; Ezrati, 2004). The majority of American companies believe that offshore-related matters rank as the most strategic decisions that management is expected to make in the next 12 months (Wery,...
Persistent link: https://www.econbiz.de/10009456717
This paper estimates the interdependencies between capital formation, saving and output for Iran. The analysis is … output, saving and investment for the period of our study, 1960 to 2003. The analysis uses Lee and Strazicich (2004 …) procedure to endogenously determine that structural breaks occurred in 1979 for real output, 1983 for saving and 1977 for …
Persistent link: https://www.econbiz.de/10009457480
and Facts The basic model: the consumption/saving choice Allowing for a labor/leisure choice (the RBC model) Allowing for …
Persistent link: https://www.econbiz.de/10009433258
and Facts; The basic model: the consumption/saving choice; Allowing for a labor/leisure choice (the RBC model); Allowing …
Persistent link: https://www.econbiz.de/10009433264
households’ income, savings, borrowing and financial wealth evolved in 2018. The improvement in the labour market and the more …) values, and against a backdrop of very low interest rates, sustained household expenditure. The saving rate rose slightly in …
Persistent link: https://www.econbiz.de/10012523899
household income, consumption and saving, both at the aggregate level and for the main economies in the area. Drawing on the … consumption during the lockdown meant that saving rebounded in an extraordinary fashion. The outbreak of the second wave and … uncertainty over the scale of the economic impact will contribute, for some time longer, to saving remaining relatively high and …
Persistent link: https://www.econbiz.de/10012525417
approaches: a) by testing its theoretical implications on the stability of national saving and the relationship between fiscal … and private saving is detected. In terms of policy implications, these results would suggest that there is some room for …
Persistent link: https://www.econbiz.de/10012530267