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Estimating the Marginal Propensity to Consume Using the Distributions of Income, Consumption and Wealth
Fisher, Jonathan - 2019
likely reduces aggregate consumption and limits economic growth …
Persistent link: https://www.econbiz.de/10012872094
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Credit Card Utilization and Consumption Over the Life Cycle and Business Cycle
Fulford, Scott - 2018
The revolving credit available to consumers changes substantially over the business cycle, life cycle, and for individuals. We show that debt changes at the same time as credit, so credit utilization is remarkably stable. From ages 20–40, for example, credit card limits grow by more than 700...
Persistent link: https://www.econbiz.de/10012931109
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The mortgage cash flow channel of monetary policy transmission : a tale of two countries
Cooper, Daniel; Garga, Vaishali; Luengo-Prado, Maria José - 2021 - This version: August 2021
We study the mortgage cash flow channel of monetary policy transmission under fixed-rate mortgage (FRM) versus adjustable-rate mortgage (ARM) regimes by comparing the United States with primarily long-term FRMs and Spain with primarily ARMs that automatically reset annually. We find a robust...
Persistent link: https://www.econbiz.de/10012626226
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Semi-Structural Credit Gap Estimation
Lang, Jan Hannes; Welz, Peter - 2021
This paper proposes a semi-structural approach to identifying excessive household credit developments. Using an overlapping generations model, a normative trend level for the real household credit stock is derived that depends on four fundamental economic factors: real potential GDP, the...
Persistent link: https://www.econbiz.de/10013315388
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Is the selfish life-cycle model more applicable in Japan and, if so, why? : a literature survey
Horioka, Charles - 2020
The selfish life-cycle model or hypothesis is, together with the dynasty or altruism model, the most widely used theoretical model of household behavior in economics, but does this model apply in the case of a country like Japan, which is said to have closer family ties than other countries? In...
Persistent link: https://www.econbiz.de/10012291218
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Semi-structural credit gap estimation
Lang, Jan Hannes; Welz, Peter - 2018
This paper proposes a semi-structural approach to identifying excessive household credit developments. Using an overlapping generations model, a normative trend level for the real household credit stock is derived that depends on four fundamental economic factors: real potential GDP, the...
Persistent link: https://www.econbiz.de/10011928898
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Estimating the marginal propensity to consume using the distributions of income, consumption and wealth
Fisher, Jonathan; Johnson, David S.; Smeeding, Timothy M.; … - 2019 - This version: February 2019
likely reduces aggregate consumption and limits economic growth. …
Persistent link: https://www.econbiz.de/10011995764
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Political versus economic institutions in the growth process
Flachaire, Emmanuel; García-Peénalosa, Cecilia; … - 2011
After a decade of research on the relationship between institutions and growth, scholars in this field seem to be … divided. Economic institutions perform well in growth regressions and a body of literature argues that this supports the key … literature describes are the more stable political institutions, and these have been found to play no role in empirical growth …
Persistent link: https://www.econbiz.de/10010274856
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Growth, foreign direct investment and urban concentrations: unbundling spatial lags
Poelhekke, Steven; van der Ploeg, Frederick - 2008
Cross-country regressions suggest that urbanization and FDI are important drivers of growth. However, it is not clear … that primacy eventually hurts growth performance. Since it is tough to interpret cross-country growth regressions, we … growth and unbundling spatial lags matters. Robustness is verified by re-estimating our regressions with fixed effects and …
Persistent link: https://www.econbiz.de/10010276225
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Globalization, institutions, and the ethnic divide: Recent longitudinal evidence
Wunnava, Phanindra V.; Mitra, Aniruddha; Prasch, Robert E. - 2012
This paper investigates the determinants of economic growth emphasizing the role of institutional quality, social … fragmentation, and increasing global integration on recent growth experience. Our longitudinal data consists of 103 countries … the security of property rights has played a critical role in promoting economic growth. Ethnic heterogeneity has been a …
Persistent link: https://www.econbiz.de/10010282215