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Adam Smith's answer to the Feldstein-Horioka paradox: The invisible hand revisited

Yasutomi, Ayumu; Horioka, Charles Yuji - 2010

In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...

Persistent link: https://www.econbiz.de/10010332269

Natural Resources, Investment and Long-Term Income

Papyrakis, Dlisraios; Gerlagh, Reyer - 2004

We study the negative correlation between natural resource-abundance and long-term income focusing on the savings-investment … the issue. In this model, savings adjust downwards to income from natural resources, and investment in capital contributes … income through savings and investment. Natural resources have two counteracting effects on income. In the short term …

Persistent link: https://www.econbiz.de/10011324959

Does financial liberalization influence saving, investment and economic growth? Evidence from 25 emerging market economies, 1973 - 96

Hermes, Niels; Lensink, Robert - 2005

This paper aims to investigate the relationship between financial liberalization on the one hand and saving, investment … investment (although there are some signs to believe that liberalization may actually reduce rather than increase domestic saving …), whereas it is positively associated with private investment, as well as with per capita GDP growth. We find a negative …

Persistent link: https://www.econbiz.de/10010284781

Toward a theory of evaluating predictive accuracy

Kunst, Robert M.; Jumah, Adusei - 2004

using an empirical example of UK investment data. …

Persistent link: https://www.econbiz.de/10010293709

Monetary policy, inflation and economic growth in Pakistan: Exploring the co-integration and causality relationships

Chaudhry, Imran Sharif; Qamber, Yasmeen; Farooq, Fatima - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 6 (2012) 2, pp. 332-347

This paper investigates the long run and short run relationships of monetary policy, inflation and economic growth in Pakistan using co-integration and causality analysis during the period 0f 1972-2010. A large number of empirical studies on the relationships of monetary policy and inflation are...

Persistent link: https://www.econbiz.de/10011938320

On the Causality Between Saving and Growth: Long- and Short-Run Dynamics and Country Heterogeneity

Andersson, Björn - 1999

The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...

Persistent link: https://www.econbiz.de/10010321740

Expectations and Saving Behavior: An Empirical Analysis

Arent, Stefan - 2012

studies. We use aunique panel data set on household savings. We find that that a higher unemploymentexpectation significantly … decreases savings. However, we are not able to identify asignificant relationship between general future income expectations and … savings. Moreover,we find that good health expectations increase savings in Western Germany, butdecrease the savings in …

Persistent link: https://www.econbiz.de/10010312155

Old-age saving in a welfare state

Andersen, Torben M.; Sigmarsson, Andri S.; Zoega, Gylfi - 2024

We contribute to the literature on saving in retirement by studying the saving behavior of retirees in Iceland, a country where health care and nursing homes ares free of charge. This removes some of the precautionary motive for saving, leaving the bequest motive and other inter-generational...

Persistent link: https://www.econbiz.de/10014581198

Saving after retirement and preferences for residual wealth

Fella, Giulio; Holm, Martin Blomhoff; Pugh, Thomas - 2024

We use administrative data for Norway to estimate an incomplete-market life-cycle model of retired singles and couples with a bequest motive, health-dependent utility, and uncertain longevity and health. We allow the parameters of the bequest utility to differ between households with and without...

Persistent link: https://www.econbiz.de/10014581860

Ersparnis und Versorgungsaufwendungen nach Haushaltsgruppen

Bedau, Klaus-Dietrich - 1999

Sparquote zu. Außerdem beeinflußt die Art der sozialen Sicherung die Höhe der Sparquote. Selbständigen-Haushalte sparen einen … Abschluß von Lebensversicherungen treffen. (Nichtbeamtete) Arbeitnehmer dagegen sparen einen Teil ihres Einkommens nicht …In recent years the aggregate savings ratio in Germany has declined. The basic causes are, above all, the rise in …

Persistent link: https://www.econbiz.de/10010260715