We question the conventional view that it is optimal for government to maintain a stable level of spending out of oil wealth. We compare this conventional policy recommendation with one where government spends all of its oil revenues upfront, at the same rate as oil is extracted. Using a...

Taking Jiangsu and Xinjiang Provinces in China as examples, this paper analyzes the differences of income level, income structure and consumption level between eastern and western China. Since the reform and opening up, income of rural residents in eastern China has been much higher than that in...

This paper shows that increasing government social expenditures can make a substantive contribution to increasing household consumption in China. The paper first undertakes an empirical study of the relationship between the savings rate and social expenditures for a panel of OECD countries and...

An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater financial deregulation, larger wealth accumulation, and better policies might have helped lower uncertainty about future income and lengthen...

In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non- Ricardian households is in general...

Langfristig sinkende Einwohnerzahlen und die demographische Entwicklung lassen die Bedeutung Älterer für die Inlandsnachfrage in Deutschland steigen. Haushalte von älteren Personen fragen nicht grundsätzlich andere Güter und Dienste nach als Haushalte von Jüngeren, jedoch unterscheidet...

The aim of the article was an attempt at identifying various levels of affluence of Polish households by their consumption structure as well as description of the volume, structure, and disparities in expenditures of the identified classes of affluence. A two-step procedure was conducted to...

This paper investigates how two effects drive wedges between nominal and real inequality estimates. The effects are caused by (i) differences in the composition of consumption over the income distribution coupled with differential inflation of consumption items; and (ii) quantity discounting...

The aim of the article was an attempt at identifying various levels of affluence of Polish households by their consumption structure as well as description of the volume, structure, and disparities in expenditures of the identified classes of affluence. A two-step procedure was conducted to...