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Buffer-Stock Saving in a Krusell-Smith World

Carroll, Christopher D. - 2015

A large body of microeconomic evidence supports Friedman (1957)'s proposition that household income can be reasonably well described as having both transitory and permanent components. We show how to modify the widely-used macroeconomic model of Krusell and Smith (1998) to accommodate such a...

Persistent link: https://www.econbiz.de/10013034318

Freedom Laws & the Economics of Ethnicity

Curtis Jr, James E - 2012

The debate over market/individual regulation and freedom is not a new discussion. However, a clear understanding of the freedoms (or the lack of freedoms) and their economic consequences on early black Americans provides an informative understanding to the freedoms (or the lack of freedoms), and...

Persistent link: https://www.econbiz.de/10014173448

Wealth Effects on World Private Financial Saving

Fair, Ray C. - 2014

can be explained by lagged changes in world stock and housing prices for the sample period 1982-2013. The results suggest …

Persistent link: https://www.econbiz.de/10013040039

House Prices, Money, Credit and the Macroeconomy

Goodhart, Charles A. E. (contributor); … - 2008

This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...

Persistent link: https://www.econbiz.de/10003778768

Wealth effects in emerging market economies

Peltonen, Tuomo; Sousa, Ricardo M.; Vansteenkiste, Isabel - 2009

We build a panel of 14 emerging economies to estimate the magnitude of housing, stock market, and money wealth eÞects … that: (i) wealth effects are statistically significant and relatively large in magnitude; (ii) housing wealth effects tend … countries; (iii) housing wealth effects have increased for Asian coutries in recent years; and (iv) consumption reacts stronger …

Persistent link: https://www.econbiz.de/10003831615

House Prices, Money, Credit and the Macroeconomy

Goodhart, Charles A. E.; Hofmann, Boris - 2021

Persistent link: https://www.econbiz.de/10013316547

HIV/AIDS Contamination Risk, Savings and the Welfare Effects of Diagnostic Testing

Lammers, Judith; Meijdam, Lex; Verbon, Harrie - 2007

This paper models the effect of a HIV/AIDS epidemic on saving behavior and studies the welfare effects of testing for HIV. The model specifies a utility function that includes both regular consumption, and medical expenditures. Medical expenditures generate more utility if individuals are HIV...

Persistent link: https://www.econbiz.de/10014224367

Chapter 13. Social Security and Public Insurance

Börsch-Supan, A.; Härtl, K.; Leite, D.N. - In: Handbook of the economics of population aging : Volume 1, (pp. 781-863). 2016

When the challenges of population aging are being debated, the uncertain future of pension systems is a topic of high priority and large controversy. The aim of this chapter is not to provide a “consensus view” on social security and public insurance in aging populations but to put structure...

Persistent link: https://www.econbiz.de/10014023471

Asymmetric Demographic Pressure in South-Mediterranean versus North-Mediterranean Economies and Its Impact on International Gross Capital Flows

Peeters, Marga - 2012

According to the life-cycle theory, countries with high and rising youth ratios or high and rising old-age ratios tend to have low savings relative to investment, which depresses their capital outflows. This paper puts life-cycle theory to the test and studies the impact of demographic change on...

Persistent link: https://www.econbiz.de/10013104636

Risk Sharing, Vulnerability and the Global Financial Crisis

Miller, Stephen Matteo - 2014

Tests using Household, Income and Labour Dynamics in Australia (HILDA) unit record data from 2006/2007 to 2010/2011 indicate that Australian households on average insure against idiosyncratic income shocks. For a 10% change in income, non-durable expenditures change by 0.14%, while food...

Persistent link: https://www.econbiz.de/10013066994