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Non-durable consumption and housing net worth in the Great Recession : evidence from easily accessible data

Kaplan, Greg; Mitman, Kurt; Violante, Giovanni L. - In: Journal of public economics 189 (2020), pp. 1-11

Persistent link: https://www.econbiz.de/10012584710

Non-durable Consumption and Housing Net Worth in the Great Recession : Evidence from Easily Accessible Data

Kaplan, Greg - 2016

measure the effect of changes in the housing share of net worth on total household expenditures during the Great Recession …-accessible proxy for expenditures in non-durable goods. We re-affirm their findings in our data, and refine their analysis in several … consumption versus nominal expenditures; and (iii) we infer the implied elasticity of total non-durable expenditures in goods and …

Persistent link: https://www.econbiz.de/10012456443

Consumption and Wealth in Australia

Tan, Alvin; Voss, Graham M. - 2003

This paper examines the relationship between consumption and wealth in Australia. We find a steady-state relationship … between non-durables consumption, labour income and aggregate household wealth for the period 1988-1999. We also find that …

Persistent link: https://www.econbiz.de/10014084383

Asset Pricing in the International Economy

Barrionuevo, José M. - International Monetary Fund (IMF) - 1993

This paper presents a statistical and economic interpretation of the low and often economically implausible risk aversion estimates obtained for fixed income assets throughout the finance literature. For a statistical interpretation, Monte Carlo simulations are used to demonstrate that...

Persistent link: https://www.econbiz.de/10005826001

Life-Cycles, Dynasties, Savings; Implications for Closed and Small, Open Economies

Faruqee, Hamid; Laxton, Douglas - International Monetary Fund (IMF) - 2000

This paper examines the macroeconomic implications of life-cycle and dynastic saving behavior for closed and small, open economies. Using an extended version of Blanchard’s overlapping agents model, the analytical framework nests these two competing views, treating agents as either dynastic...

Persistent link: https://www.econbiz.de/10005826319

Permanent Income Inequality: Australia, Britain, Germany, and the United States Compared

Leigh, Andrew - Research School of Economics, College of Business and … - 2009

A common critique of most measures of income inequality, which are based on a single year's income, is that they fail to take account of income mobility. If income fluctuations are large, and individuals can smooth consumption, then high inequality and high mobility may be no worse than low...

Persistent link: https://www.econbiz.de/10008511760

On the measurement of long-term income inequality and income mobility

Aaberge, Rolf; Mogstad, Magne - Society for the Study of Economic Inequality - ECINEQ - 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/10008512110

Measuring long-term inequality of opportunity

Aaberge, Rolf; Mogstad, Magne; Peragine, Vito - Society for the Study of Economic Inequality - ECINEQ - 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 exante and an ex-post approach to EOp. Our ex-post approach relies on a permanent income measure defined as...

Persistent link: https://www.econbiz.de/10008512115

Dissecting Saving Dynamics; Measuring Wealth, Precautionary, and Credit Effects

Carroll, Christopher; Sommer, Martin; Slacalek, Jiri - International Monetary Fund (IMF) - 2012

is affected by the gap between â€˜targetâ€™ and actual wealth, with the target wealth determined by credit conditions and … saving rateâ€™s long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business …

Persistent link: https://www.econbiz.de/10011242291

Kuwait: Selected Issues

International Monetary Fund (IMF); International … - 2013

This Selected Issues paper estimates the optimal allocation of government current spending, precautionary saving, and investment for Kuwait under uncertainty. The results show that in the face of high oil income volatility and the expected decline in oil prices, projected current spending...

Persistent link: https://www.econbiz.de/10011242728