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Today Versus tomorrow; The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income

Thomas, Alun H.; Bayoumi, Tamim - International Monetary Fund (IMF) - 2009

test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that … adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the … wealth) rather than current income. By contrast, for the public sector and African countries permanent income has little or …

Persistent link: https://www.econbiz.de/10008540922

Measuring Long-Term Inequality of Opportunity

Aaberge, Rolf; Mogstad, Magne; Peragine, Vitorocco - Institute for the Study of Labor (IZA) - 2010

In this paper, we introduce and apply a general framework for evaluating long-term income distributions according to the Equality of Opportunity principle. Our framework allows for both an ex-ante and an ex-post approach to EOp. Our ex-post approach relies on a permanent income measure defined...

Persistent link: https://www.econbiz.de/10008543265

On the Measurement of Long-Term Income Inequality and Income Mobility

Aaberge, Rolf; Mogstad, Magne - Institute for the Study of Labor (IZA) - 2010

This paper proposes a two-step aggregation method for measuring long-term income inequality and income mobility, where mobility is defined as an equalizer of long-term income. The first step consists of aggregating the income stream of each individual into a measure of permanent income, which...

Persistent link: https://www.econbiz.de/10008543270

European integration and inequality among countries: a lifecycle income analysis

Pastor Monsálvez, José M.; Serrano, Lorenzo - Volkswirtschaftliche Fakultät, … - 2009

We analyze the effects of the expansions of the European Union on inequality using an approach based on individuals' lifecycle incomes. This allows us to consider the effect of different rates of growth and survival rates. This differs form the usual analyses of inequality that focus on the...

Persistent link: https://www.econbiz.de/10008549613

Resource rents; when to spend and how to save

Venables, Anthony J - C.E.P.R. Discussion Papers - 2010

Countries with substantial revenues from renewable resources face a complex range of revenue management issues. What is the optimal time profile of consumption from the revenue, and how much should be saved? Should saving be invested in foreign funds or in the domestic economy? How does...

Persistent link: https://www.econbiz.de/10008468644

Frugality; Are We Fretting too Much? Household Saving and Assets in the United States

Tanner, Evan; Abdih, Yasser - International Monetary Fund (IMF) - 2009

Household savings rates in the United States have recently crept up from all-time lows. Some have suggested that a shift toward frugality will hamper GDP growth-the Keynesian "paradox of thrift." We estimate that households compensate for a fall in their asset income by saving more out of their...

Persistent link: https://www.econbiz.de/10008528609

The Relative Income Theory of Consumption: A Synthetic Keynes-Duesenberry-Friedman Model

Palley, Thomas I. - Political Economy Research Institute (PERI), University … - 2008

This paper presents a theoretical model of consumption behavior that synthesizes the seminal contributions of Keynes (1936), Friedman (1956) and Duesenberry (1948). The model is labeled a “relative permanent income” theory of consumption. The key feature is that the share of permanent income...

Persistent link: https://www.econbiz.de/10004970448

On the Definition and Measurement of Chronic Poverty

Aaberge, Rolf; Mogstad, Magne - International Centre for Economic Research (ICER) - 2006

As an alternative to the conventional methods for measuring chronic poverty, this paper proposes to use an interpersonal comparable measure of permanent income as a basis for defining and measuring chronic poverty. This approach accounts for the fact that individuals may undertake inter-period...

Persistent link: https://www.econbiz.de/10004972532

PUBLIC EXPENDITURES GROWTH IN GREECE AND PORTUGAL: WAGNER'S LAW AND BEYOND.

COURAKIS, S.; MOURA-ROQUE, F.; TRIDIMAS, G. - Department of Economics, Oxford University - 1990

Persistent link: https://www.econbiz.de/10004977873

On the Definition and Measurement of Chronic Poverty

Aaberge, Rolf; Mogstad, Magne - Statistisk Sentralbyrå, Government of Norway - 2007

As an alternative to the conventional methods for measuring chronic poverty, this paper proposes an interpersonal comparable measure of permanent income as a basis for defining and measuring chronic poverty. This approach accounts for the fact that individuals regularly undertake inter-period...

Persistent link: https://www.econbiz.de/10004980898