Showing 1 - 10 of 39,469
Persistent link: https://www.econbiz.de/10012699615
We use an agent-based stock-flow consistent model of a closed economy without technological change that considers different classes of households, status consumption and a Minskyan banking sector to analyze the relationship between rising saving rates, the accumulation and distribution of...
Persistent link: https://www.econbiz.de/10012818125
fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …
Persistent link: https://www.econbiz.de/10009760038
Persistent link: https://www.econbiz.de/10011776776
Persistent link: https://www.econbiz.de/10001574012
Persistent link: https://www.econbiz.de/10001587733
Persistent link: https://www.econbiz.de/10014547170
Persistent link: https://www.econbiz.de/10013425839
two channels in driving aggre- gate consumption fluctuations in the US: (i) precautionary savings against un- employment …, indicating an MPC puzzle. This is because the likelihood-based estimation favors a low degree of nominal rigidity and responsive …
Persistent link: https://www.econbiz.de/10014308595
Using micro-level data, we document a systematic, income-related component in household income forecast errors. We show … persistence of their income process. We then investigate the implications of these distortions on consumption and savings behavior …
Persistent link: https://www.econbiz.de/10012495059