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US household saving: how far will it rise?
Feddersen, Hans Berend - 2009
Prior to the recession of 2008/09 household saving was extremely low in the United States. In the context of the …
Persistent link: https://www.econbiz.de/10009641069
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Managing household debts : social service provision in the EU ; Workshop report - Brussels, 25 June 2010
European Foundation for the Improvement of Living and … - 2010
Overall, household debt levels have risen sharply over the past decades in EU Member States. While certain levels of … household debts can be beneficial, they can become problematic especially with a sudden, unexpected decrease of incomes or …
Persistent link: https://www.econbiz.de/10011903923
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Managing household debts : Social service provision in the EU ; Working paper
Dubois, Hans; Anderson, Robert - 2010
Household over-indebtedness is among the causes of the current financial crisis. In turn, the crisis exacerbated both … public and private debt problems. In this paper, household over-indebtedness is broadly defined as the situation where a … household cannot comply with payment requirements – whether it be mortgage, utility or consumer credit payments – on a …
Persistent link: https://www.econbiz.de/10011903924
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Country and sector-specific spillover effects in the euro area, the United States and Japan
Kaltenhaeuser, Bernd - 2003
Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...
Persistent link: https://www.econbiz.de/10009635881
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Identifying fiscal shocks and policy regimes in OECD countries
Arcangelis, Giuseppe de; Lamartina, Serena - 2003
The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...
Persistent link: https://www.econbiz.de/10009635887
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US, Japan and the euro area
McAdam, Peter - 2003
There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...
Persistent link: https://www.econbiz.de/10009635889
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Measuring the time-inconsistency of US monetary policy
Surico, Paolo - 2003
This paper offers an alternative explanation for the behavior of postwar US inflation by measuring a novel source of monetary policy time-inconsistency due to Cukierman (2002). In the presence of asymmetric preferences, the monetary authorities end up generating a systematic inflation bias...
Persistent link: https://www.econbiz.de/10009635891
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Identifying the monetary transmission mechanism using structural breaks
Beyer, Andreas; Farmer, Roger E. A. - 2003
the recoverable structure. As an application of our method we estimate the parameters of a model of the USA monetary …
Persistent link: https://www.econbiz.de/10009635894
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On the indeterminacy of determinacy and indeterminacy
Beyer, Andreas; Farmer, Roger E. A. - 2003
A number of authors have attemted to test whether the U.S. economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must be impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1...
Persistent link: https://www.econbiz.de/10009635896
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The output composition puzzle
Angeloni, Ignazio; Kashyap, Anil K.; Mojon, Benoît; … - 2003
We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...
Persistent link: https://www.econbiz.de/10009635907