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Author : Eatzaz Ahmad
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (318 download)
Download or read book Capital Accumulation Under Uncertain Lifetimes written by Eatzaz Ahmad and published by . This book was released on 1993 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luisa Fuster
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Effects of Uncertain Lifetime and Annuity Insurance on Capital Accumulation and Growth written by Luisa Fuster and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effects of uncertain lifetime on capital accumulation and growth and also the sensitivity of those effects to the existence of a perfect annuities market. The model is an overlapping generations model with uncertain lifetimes. The technology is convex and such that the marginal product of capital is bounded away from zero. A contribution of this paper is to show that the existence of accidental bequests may lead the economy to an equilibrium that exhibits asymptotic growth, which is impossible in an economy with a perfect annuities market or with certain lifetimes. This paper also shows that if individuals face a positive probability of surviving in every period, they may be willing to save at any age. This effect of uncertain lifetime on savings may also lead the economy to an equilibrium exhibiting asymptotic growth even if there exists a perfect annuities market.
Author : Andrew B. Abel
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (131 download)
Download or read book Capital Accumulation and Uncertain Lifetimes with Adverse Selection written by Andrew B. Abel and published by . This book was released on 1985 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : M. Luisa Fuster Pérez
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Effects of Uncertain Lifetime and Annuity Insurance on Capital Accumulation and Growth written by M. Luisa Fuster Pérez and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Martin Eichenbaum
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)
Download or read book Capital Accumulation and Annuities in an Adverse Selection Economy written by Martin Eichenbaum and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper suggests that adverse selection problems in competitive annuity markets can generate quantity constrained equilibria in which some agents whose length of lifetime is uncertain find it advantageous to accumulate capital privately. This occurs despite the higher rates of return on annuities. The welfare properties of these allocations are analyzed. It is shown that the level of capital accumulation is excessive in a Paretian sense. Policies which eliminate this inefficiency are discussed.
Author : Tapendra Narayan Sinha
Publisher :
ISBN 13 :
Total Pages : 158 pages
Book Rating : 4.:/5 (319 download)
Download or read book Essays on the Theory of Uncertain Lifetimes written by Tapendra Narayan Sinha and published by . This book was released on 1986 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (149 download)
Download or read book Capital Accumulation and Annuities in an Adverse Selection Economy written by and published by . This book was released on 1986 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper suggests that adverse selection problems in competitive annuity markets can generate quantity constrained equilibria in which some agents whose length of lifetime is uncertain find it advantageous to accumulate capital privately. This occurs despite the higher rates of return on annuities. The welfare properties of these allocations are analyzed. It is shown that the level of capital accumulation is excessive in a Paretian sense. Policies which eliminate this inefficiency are discussed
Author : Luisa Fuster
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (392 download)
Download or read book Effects of Uncertain Lifetime and Annuity Insurance on Captial Accumulation and Growth written by Luisa Fuster and published by . This book was released on 1998 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eugen von Böhm-Bawerk
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610163648
Total Pages : 468 pages
Book Rating : 4.6/5 (11 download)
Download or read book The Positive Theory of Capital written by Eugen von Böhm-Bawerk and published by Ludwig von Mises Institute. This book was released on 1959 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Frank H. Knight
Publisher : Cosimo, Inc.
ISBN 13 : 1602060053
Total Pages : 401 pages
Book Rating : 4.6/5 (2 download)
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author :
Publisher :
ISBN 13 :
Total Pages : 398 pages
Book Rating : 4.3/5 (555 download)
Download or read book Life Insurance Fact Book written by and published by . This book was released on 1959 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth K. Kurihara
Publisher : Routledge
ISBN 13 : 1136517855
Total Pages : 463 pages
Book Rating : 4.1/5 (365 download)
Download or read book Post-Keynesian Economics written by Kenneth K. Kurihara and published by Routledge. This book was released on 2013-10-08 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the extension of Keynes' General Theory by a group of eminent economists. Each essay takes Keynes' work as a frame of reference for criticism, explorations and insights, whilst adding to the superstructure on the foundation of the General Theory. The essays also provide the necessary sense of perspective with a view to examining the Keynesian contribution to economic thought and also the limitations of Keynesian economics. The international contributors include: Dudley Dillard, Martin Bronfenbrenner, Mabel F. Timlin, William S. Vickrey, Don Patinkin, Howard R. Bowen, Gerald M. Meier, R.C.O. Matthews, Shinichi Ichimura, Anatol Murad, Lawrence R. Klein, Shigeto Tsuru, Paul P. Streeten, Lorie Tarshis and Franco Modigliani.
Author : Mr.Michael Kumhof
Publisher : International Monetary Fund
ISBN 13 : 1455210757
Total Pages : 39 pages
Book Rating : 4.4/5 (552 download)
Download or read book Inequality, Leverage and Crises written by Mr.Michael Kumhof and published by International Monetary Fund. This book was released on 2010-11-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where these features arise endogenously as a result of a shift in bargaining powers over incomes. A financial crisis can reduce leverage if it is very large and not accompanied by a real contraction. But restoration of the lower income group's bargaining power is more effective.
Author : Mr. Murtaza H. Syed
Publisher : International Monetary Fund
ISBN 13 : 1455214965
Total Pages : 23 pages
Book Rating : 4.4/5 (552 download)
Download or read book Japan’s Quest for Growth written by Mr. Murtaza H. Syed and published by International Monetary Fund. This book was released on 2010-12-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: As labor input in Japan shrinks with population aging, capital accumulation and productivity gains will drive growth over the medium-term. At the same time, a changing global landscape calls for a shift in export-oriented investment toward new markets and a new generation of products, as well as increased investment by domestically-oriented firms. What policies could be adopted to help firms adjust to the imperatives of the post-crisis global economy and boost medium-term growth? Using disaggregated data, this paper investigates the determinants of investment and R&D spending by Japanese firms. The results suggest that policies could usefully focus on four areas. First, raising the return on investment, including through reforms to the tax code. Second, decreasing uncertainty through improved risk management by firms and by bolstering the business climate. Third, improving SME access to finance, notably by encouraging venture capital investment in innovative areas and more risk-based lending. And fourth, reducing excess leverage and supporting corporate restructuring to enable new investments to flourish.
Author : Shuetsu Takahashi
Publisher : Springer Nature
ISBN 13 : 9819910676
Total Pages : 209 pages
Book Rating : 4.8/5 (199 download)
Download or read book Modern Macroeconomics with Historical Perspectives written by Shuetsu Takahashi and published by Springer Nature. This book was released on 2023-08-28 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives readers advanced insights into macroeconomics with historical perspectives and proposes policies to resolve the problems the Japanese economy faces. In the past decade, Japan has experienced a rapidly aging population with an ever-decreasing number of children. This causes significant problems related to macroeconomics covered by this book: a decreasing population, an increasing public debt, an increasing social security expenditure, and deteriorating labor productivity. Thus, the government must change the course it has followed until now. These problems can be categorized into two types: (1) human capital and (2) political institutions. The book therefore consists of two parts. The first, using a macroeconomic model, is mainly a discussion of health and education problems related to human capital. The second part deals with policy problems related to political institutions, that is, the intergenerational imbalance, preventive medicine, local public utilities, and other political issues. Through the arguments presented here, readers gain knowledge that will help to achieve the necessary economic policies in Japan.
Author : Thomas Piketty
Publisher : Harvard University Press
ISBN 13 : 0674979850
Total Pages : 817 pages
Book Rating : 4.6/5 (749 download)
Download or read book Capital in the Twenty-First Century written by Thomas Piketty and published by Harvard University Press. This book was released on 2017-08-14 with total page 817 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Author : Andreas Fagereng
Publisher : International Monetary Fund
ISBN 13 : 1484370066
Total Pages : 69 pages
Book Rating : 4.4/5 (843 download)
Download or read book Heterogeneity and Persistence in Returns to Wealth written by Andreas Fagereng and published by International Monetary Fund. This book was released on 2018-07-27 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate.
