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Productivity Growth and the Future of the U.S. Saving Rate

Iscan, Talan - Department of Economics, Dalhousie University - 2009

Persistent link: https://www.econbiz.de/10008459700

Exchange Rate Protection and Exchange Rate Conflict

Bliss, Christopher; Joshi, Vijay R - C.E.P.R. Discussion Papers - 1987

The paper investigates a model of "exchange rate protection" by two countries. Either or both countries may protect their tradable sectors by maintaining undervalued exchange rates. The mechanism of protection considered involves a country increasing its national saving rate and exporting...

Persistent link: https://www.econbiz.de/10005791547

Unemployment and portfolio choice: Does persistence matter?

Kuzin, Vladimir N.; Bremus, Franziska M. - 2010

decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout …

Persistent link: https://www.econbiz.de/10010291783

Private pensions, retirement wealth and lifetime earnings

MacGee, James; Zhou, Jie - 2010

permanent return differences across households, we find that the model largely accounts for the sizeable variation in retirement …

Persistent link: https://www.econbiz.de/10010291899

Costly contracts and consumer credit

Livshits, Igor; MacGee, James; Tertilt, Michèle - 2011

the dispersion of credit card interest rates nearly tripled, and the share of credit card debt of lower income households …

Persistent link: https://www.econbiz.de/10010291903

Conspicuous consumption, economic growth, and taxation: A generalization

Fisher, Walter H.; Hof, Franz X. - 1999

This paper studies the influence of consumption externalities in the Ramsey model. In contrast to the recent literature, a quite general specification of preferences is used and the concept of the effective intertemporal elasticity of substitution is introduced. We give conditions for the...

Persistent link: https://www.econbiz.de/10010291908

The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data

Agarwal, Sumit; Liu, Chunlin; Souleles, Nicholas S. - 2007

We use a new panel dataset of credit card accounts to analyze how consumers responded to the 2001 federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that on average...

Persistent link: https://www.econbiz.de/10010292101

Liquidity constraints of the middle class

Campbell, Jeffrey R.; Hercowitz, Zvi - 2009

The consumption of households with liquid financial assets responds much more to transitory income shocks than the … permanent-income hypothesis predicts. That is, middle class households with assets act as if they face liquidity constraints …. This paper addresses this puzzling observation with a model of impatient households that face a large recurring expenditure …

Persistent link: https://www.econbiz.de/10010292143

Do credit constraints amplify macroeconomic fluctuations?

Liu, Zheng; Wang, Pengfei; Zha, Tao - 2010

Previous studies on financial frictions have been unable to establish the empirical significance of credit constraints in macroeconomic fluctuations. This paper argues that the muted impact of credit constraints stems from the absence of a mechanism to explain the observed persistent comovements...

Persistent link: https://www.econbiz.de/10010292216

The impact of medical and nursing home expenses and social insurance policies on savings and inequality

Kopecky, Karen A.; Koreshkova, Tatyana - 2010

We consider a life-cycle model with idiosyncratic risk in labor earnings, out-of-pocket medical and nursing home expenses, and survival. Partial insurance is available through welfare, Medicaid, and social security. Calibrating the model to the United States, we find that 12 percent of aggregate...

Persistent link: https://www.econbiz.de/10010292233