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This article measures the total government indebtedness, total investment and gross national savings of Greece, Italy, Portugal, and Spain, (GIPS). Using data from the International Monetary Fund, IMF, we describe the current situation for the period 2000 to 2018. Macroeconomic indicators such...
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In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...
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This study examines optimal taxation in a unionized economy in which households save capital. The main findings are as follows. Judd?s (1985) and Chamley?s (1986) classical results of zero taxation on capital income holds. This is true independently of workers? savings behaviour or the...
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Assuming a two-period model with endogenous choices of labour, education, and saving, it is shown to be second-best efficient not to distort the choice of education. In general this implies distorting the saving decision. Hence a strict order of policy priority is derived. Efficient tax policy...
Persistent link: https://www.econbiz.de/10010264217
We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...
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den Entwicklungsländern ist ein wichtiger Gegenstand der Entwicklungsforschung. Jedoch wurde die Investition als eine … Investition in den nicht-landwirtschaftlichen Sektor als eine wichtige Sparmotivation für ländliche Haushalte zu betrachten ist … ländlichen Haushalte verstärkt sparen. Die Manager der TVEs haben große Motivation zu sparen, um ein kollektives TVE unter dem …
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