sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between …In recent years China has experienced two forms of extreme macroeconomic imbalance: an expenditure imbalance in the …. Both imbalances imply a low rate of time discount by both government and society: consumption in the present is forgone in …

sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between …In recent years China has experienced two forms of extreme macroeconomic imbalance: an expenditure imbalance in the …. Both imbalances imply a low rate of time discount by both government and society: consumption in the present is forgone in …

savings and investment, credit and housing booms in some countries and the allocation of resources towards less productive … to be reduced, which, in turn, is weakening investment and therefore weighing on growth prospects and growth potential …

been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does …

the explanation of the J-curve phenomenon in terms of habit persistence in consumption and sluggishness in capital … expense when the perturbation is at work and a definitely higher level of consumption at the new steady-state. Habitual … hysteresis effects. In accordance with recent empirical results, investment is procyclical, H-L-M effect holds, net foreign …

real consumption and investment matter as well after a temporary perturbation. As a consequence of an intertemporal … consumption and the magnitude of capital installation costs after an unanticipated terms of trade worsening, we show that the …

terms of habit persistence in consumption and sluggishness in capital adjustment. The results differ markedly depending on …. Investment and real expense folow non-monotonic transitional paths and current account dynamics are driven by new forces. In … accordance with recent empirical results, investment is procyclical, trade balance deteriorates initially, net foreign assets …

the explanation of the J-curve phenomenon in terms of habit persistence in consumption and sluggishness in capital … expense when the perturbation is at work and a definitely higher level of consumption at the new steady-state. Habitual … hysteresis effects. In accordance with recent empirical results, investment is procyclical, H-L-M effect holds, net foreign …