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Inadequate household deleveraging : income, debt, and social provisioning
Scott, Robert; Pressman, Steven - In: Journal of economic issues : jei 49 (2015) 2, pp. 483-492
Persistent link: https://www.econbiz.de/10011427747
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Demand-driven inequality, endogenous saving rate and macroeconomic instability
Ryoo, Soon - In: Cambridge journal of economics 40 (2016) 1, pp. 201-225
Persistent link: https://www.econbiz.de/10011576996
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Heterogeneous risk preferences and the welfare cost of business cycles
Schulhofer-Wohl, Sam (contributor) - 2007
I study the welfare cost of business cycles in a complete-markets economy where some people are more risk averse than others. Relatively more risk-averse people buy insurance against aggregate risk, and relatively less risk-averse people sell insurance. These trades reduce the welfare cost of...
Persistent link: https://www.econbiz.de/10003780240
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Do credit constraints amplify macroeconomic fluctuations?
Liu, Zheng; Wang, Pengfei; Zha, Tao - 2010
Previous studies on financial frictions have been unable to establish the empirical significance of credit constraints in macroeconomic fluctuations. This paper argues that the muted impact of credit constraints stems from the absence of a mechanism to explain the observed persistent comovements...
Persistent link: https://www.econbiz.de/10008664169
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Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies
Pace, Federico di; Faccini, Renato - 2010
We extend the standard textbook search and matching model by introducing deep habits in consumption. The cyclical fluctuations of vacancies and unemployment in our model can replicate those observed in the US data, with labour market tightness being 20 times more volatile than consumption....
Persistent link: https://www.econbiz.de/10003969378
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Heterodox macro after the crisis
Skott, Peter - 2011
Macroeconomics is in crisis and this creates openings for alternative perspectives. The dominant heterodox traditions, however, have shortcomings that need to be addressed, both to improve our understanding of the real world and to take advantage of the opportunities offered by the irrelevance...
Persistent link: https://www.econbiz.de/10009357209
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Household consumption through recent recessions
Crossley, Thomas F.; Low, Hamish; O'Dea, Cormac - 2011
households to increase durable purchases. -- Consumption ; Spending ; Recessions …
Persistent link: https://www.econbiz.de/10009377290
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Saving on a rainy day, borrowing for a rainy day
Alan, Sule; Crossley, Thomas F.; Low, Hamish - 2012
The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...
Persistent link: https://www.econbiz.de/10009530241
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Budgetpolitik im Zeitalter verminderter Erwartungen
Marterbauer, Markus - 2010
countries. Savings rates of private households have increased during the crisis. In order to reduce them various alternatives … reductions of working time could be effective in this respect. Thirdly, incentives for upper income households to expand … decrease of average savings rates and an increase of consumption rates of private households. …
Persistent link: https://www.econbiz.de/10009305421
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The rise and fall of consumption in the '00s
Demyanyk, Yuliya; Hryshko, Dmytro; Luengo-Prado, Maria José - 2015 - This version: October 16, 2015
U.S. consumption has gone through steep ups and downs since 2000, but the causes of these fluctuations are still imperfectly identified. We quantify the relative statistical impact of income, unemployment, house prices, credit scores, debt, expectations, foreclosures, inequality, and...
Persistent link: https://www.econbiz.de/10011401236