Similar Search Results

Asset allocation under multivariate regime switching

Guidolin, Massimo; Timmerman, Allan - Federal Reserve Bank of St. Louis - 2006

This paper studies asset allocation decisions in the presence of regime switching in asset returns. We find evidence that four separate regimes - characterized as crash, slow growth, bull and recovery states - are required to capture the joint distribution of stock and bond returns. Optimal...

Persistent link: https://www.econbiz.de/10005360566

Consumption, stock returns, and the gains from international risk-sharing

Lewis, Karen K. - Federal Reserve Bank of Philadelphia - 1996

Standard theoretical models predict that domestic residents should diversify their portfolios into foreign assets much more than observed in practice. Whether this lack of diversification is important depends on the potential gains from risk-sharing. General equilibrium models and consumption...

Persistent link: https://www.econbiz.de/10005387510

Economic expansion in 1954-55

In: Federal Reserve Bulletin (1955) Nov, pp. 1215-1221

Persistent link: https://www.econbiz.de/10005713788

Consumption and fixed investment in the economic recovery abroad

Howard, David H.; Lubitz, Raymond - In: Federal Reserve Bulletin (1977) Oct, pp. 871-881

Persistent link: https://www.econbiz.de/10005716941

Borrowing without debt? Understanding the U.S. international investment position

Higgins, Matthew; Klitgaard, Thomas; Tille, Cédric - Federal Reserve Bank of New York - 2006

Sustained large U.S. current account deficits have led some economists and policymakers to worry that future current account adjustment could occur through a sudden and disruptive depreciation of the dollar and a sharp drop in U.S. consumption. Two factors that, to date, have cast doubt on such...

Persistent link: https://www.econbiz.de/10005420594

Don't worry, we'll grow out of it: an analysis of demographics, consumer spending, and foreign debt

Bryan, Michael F.; Byrne, Susan M. - In: Economic Commentary (1990) Oct

An analysis of the impact of the baby-boom generation's inrush into the work force on consumer spending, debt, and foreign investment, finding evidence that age demographics are a strong determinant of aggregate household consumption.

Persistent link: https://www.econbiz.de/10005390428

Wealth effects on consumer spending in the US economy

Avramenko, Andriy - 2004

This paper investigates the effects of wealth on consumer spending in the United States. A traditional life-cycle model … is estimated first. Although it does find a statistically significant wealth effect, its findings are unusable due to the … offered. First, wealth is divided into stock market and non-stock market components, second into liquid and illiquid …

Persistent link: https://www.econbiz.de/10009474974

Consumption and asset prices with homothetic recursive preferences

Fisher, Mark; Gilles, Christian - 1999

changing the numeraire from units of consumption to units of the consumption process. In terms of the new units, the wealth …

Persistent link: https://www.econbiz.de/10010397480

Consumption and asset prices with recursive preferences: Continuous-time approximations to discrete-time models

Fisher, Mark - 1999

discrete-time solutions are derived, illustrating the following ideas: (i) The price-dividend ratio (such as the wealth …

Persistent link: https://www.econbiz.de/10010397550

Equity prices, household wealth, and consumption growth in foreign industrial countries: wealth effects in the 1990s

Bertaut, Carol C. - Federal Reserve Board (Board of Governors of the … - 2002

Although most recent empirical research regarding the size and significance of the impact of changes in wealth on … industrial countries as well. This paper investigates the strength of the wealth effect across countries. Using a variety of … methods, I find evidence of significant wealth effects in the United Kingdom and Canada of a size comparable to that in the …

Persistent link: https://www.econbiz.de/10005368483

1
2
3
4
5
6
7
8
9
10
Next
Last