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Macroeconomic Evidence On The Composition Of Effective Household Savings During The 1960s And 1970s
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Book Synopsis Macroeconomic Evidence on the Composition of Effective Household Savings During the 1960s and 1970s by : Edward J. Kane
Download or read book Macroeconomic Evidence on the Composition of Effective Household Savings During the 1960s and 1970s written by Edward J. Kane and published by . This book was released on 1984 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Microeconomic Evidence on the Composition of Effective Household SavingsDuring the 1960s and 1970s by : Edward J. Kane
Download or read book Microeconomic Evidence on the Composition of Effective Household SavingsDuring the 1960s and 1970s written by Edward J. Kane and published by . This book was released on 1984 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact of broad changes in the economic and financial environment on the savings rate and portfolio composition of individuals in different age groups and household types. Employing survey data, household savings are cumulated as increases in net transactable wealth observed across three benchmark dates: January-February 1962, the first half of 1970, and August-September, 1911. This paper describes how savings rates and the allocation of accumulated savings across different financial and real-estate assets varied with household circumstances. A sharp turn-around is observed between the 1960s and 1970s in the profiles of saving and homeownership for younger and older households
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1985 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Determination with Systematic and Unsystematic Policy Regime Changes by : John H. Makin
Download or read book Exchange Rate Determination with Systematic and Unsystematic Policy Regime Changes written by John H. Makin and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents results of estimating an exchange rate equation in light of theoretical considerations regarding changes in sterilization and intervention policy and tax policy which imply that the coefficients in the equation will not behave as fixed parameters in a given sample period,as standard econometric practice assumes. We compare the results of ordinary least squares and a random coefficients model of the Japanese Yen-- U.S. dollar exchange rate during the floating period of July 1973 through June 1982.When systematic end of year policy changes affecting Japanese reserves are explicitly modeled, both OLS and the random coefficients model show increased explanatory power. The random coefficients model appears to be superior to OLS however; by allowing the coefficients to vary over time as required by the economic theory discussed above, estimates of the mean response coefficients for the floating period all have the hypothesized sign, and explanatory power is sharply increased.
Book Synopsis 100 Years of U.S. Consumer Spending by :
Download or read book 100 Years of U.S. Consumer Spending written by and published by . This book was released on 2006 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Empirical Evaluation of the Disequilibrium Real Wage Rate Hypothesis by : Jacques R. Artus
Download or read book An Empirical Evaluation of the Disequilibrium Real Wage Rate Hypothesis written by Jacques R. Artus and published by . This book was released on 1984 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise in the share of labor costs invalue added in many industrial countries during the 1970s and early 1980s has led many observers to conclude that real wages are now too high and a source of "classical" unemployment. These conclusions are not necessarily valid. The increase in the labor share could be warranted by long-run changes in production techniques, in the price of energy, or in the relative availability of labor and capital. This paper uses a production function approach to examine these possibilities
Book Synopsis The C.F.A. Digest by : Institute of Chartered Financial Analysts
Download or read book The C.F.A. Digest written by Institute of Chartered Financial Analysts and published by . This book was released on 1984 with total page 830 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Household Formations by : Patric H. Hendershott
Download or read book Household Formations written by Patric H. Hendershott and published by . This book was released on 1984 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1960 and 1980, the number of households in the U.S. increased by 50 percent and the proportion of the population that were household heads rose from 29.5 to 36.3. While some of this increase was due to the maturing of the"baby boom" population, over half was caused by rising age-specific headship rates. In contrast, between 1980 and 1983, headship rates fell sharply for the under 34 population. This paper explains household formations due to changes in headship rates in terms of changes in real income and the price of privacy
Book Synopsis Aging and the Macroeconomy by : National Research Council
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Book Synopsis Inventory Fluctuations in the United States Since 1929 by : Alan S. Blinder
Download or read book Inventory Fluctuations in the United States Since 1929 written by Alan S. Blinder and published by . This book was released on 1984 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been known for a long time that inventory fluctuations are of great importance in business cycles. But inventory fluctuations are fundamentally a short-period phenomenon. Consequently, annual data may shed relatively little light on the nature of inventory fluctuations; most of the "action" may be played out within the year. For this reason, economists know precious little about inventory behavior before World War II. This paper seeks to lift this veil of ignorance in two ways. First, we create -- from some admittedly incomplete and imperfect data -- monthly time series on inventory holdings in manufacturing, durable manufacturing, and nondurable manufacturing. To our knowledge, these are the first such series ever made available.(The data are available on request.) Second, we apply to the prewar data certain statistical procedures and models that are in common use with postwar data. In this way, we can address the central issue of the paper: Has inventory behavior changed? While we do not wish to overstate the case, we were struck more by the similarities in inventory behavior between the prewar and postwar periods than by the differences. But the relevant stylized facts and regressing are displayed below, and each reader can make up his or her own mind
Book Synopsis The Compliance Cost of the U.S. Individual Income Tax System by : Joel Slemrod
Download or read book The Compliance Cost of the U.S. Individual Income Tax System written by Joel Slemrod and published by . This book was released on 1984 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses evidence from a survey of Minnesota taxpayers to estimate the magnitude and demographic patterns of the compliance cost of filing federal and state income tax returns. It concludes that in 1982 this cost was between $17 and $27 billion, or from five to seven percent of the revenue raised by the federal and state income tax systems combined. About two billion hours of taxpayer time were spent on filing tax returns, and about $3 billion was spent on professional tax assistance.
Book Synopsis Essays in Contemporary Economic Problems by :
Download or read book Essays in Contemporary Economic Problems written by and published by . This book was released on 1983 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The After Tax Rate of Return Affects Private Savings by : Lawrence H. Summers
Download or read book The After Tax Rate of Return Affects Private Savings written by Lawrence H. Summers and published by . This book was released on 1984 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews theoretical argumrents and empirical evidence regarding the interest elasticity of savings. It concludes that there are strong theoretical reasons to expect an increase in after tax rates of return to increase private savings. Moreover, the empirical rrethods used in most previous studies are likely to produce underestimates of the interestelasticity of savings. New evidence based on direct estimation of utility function parameters suggests that savings are likely to be highly interest elastic. The paper concludes by noting that too little time has passed to evaluate the effects of the savings incentives contained in recent tax legislation.
Book Synopsis The Impact of OSHA and EPA Regulation on Productivity by : Wayne B. Gray
Download or read book The Impact of OSHA and EPA Regulation on Productivity written by Wayne B. Gray and published by . This book was released on 1984 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents estimates of the impact of OSHA and EPA regulation on productivity. Production information for 1450 manufacturing industries from 1958 to 1980 is merged with measures of regulation, including both information on compliance expenditures by industry and enforcement efforts by OSHA and EPA. Industries that faced higher regulation during the 1970s had significantly lower productivity growth, and a greater productivity slowdown, than industries that faced lower regulation. Under certain assumptions, the regulation is estimated to have reduced average industry productivity growth by .57 percent per year, 39 percent of the average productivity slowdown. These results are robust to variations in the model and the inclusion of other productivity determinants, including poor output growth and dependence on energy. The results also suggest a one-time cost of adjustment to regulation, so the long-run impact nay be less than that estimated here. Both OSHA and EPA are found to target their enforcement effort towards those industries that are doing poorly in meeting the goals of the regulation. However, in the only area where benefits from regulation can be examined, worker injury rates and OSHA safety inspections, no significant benefits are found.
Book Synopsis Investment in Fixed and Working Capital During Early Industrialization by : Kenneth Lee Sokoloff
Download or read book Investment in Fixed and Working Capital During Early Industrialization written by Kenneth Lee Sokoloff and published by . This book was released on 1984 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper utilizes a survey of the US manufacturing firms from 1832 to investigate the structure of manufacturing investment during early industrialization. Although several manufacturing industries, such as cotton textiles, depart from the pattern, most appear to have devoted the hulk of their investments to working capitaL This variation across industries in the composition of capital investmentsis indicative of a more general variation in factor intensities, and bears on the issues of why industries became concentrated in the regions they did, and the degrees to which they were adversely affected by the limited availability of long-term loans. Evidence that most manufacturing industries had quite modest investments in machinery and tools per unit of labor is also presented, serving to undercut the notion that the early period of industrialization was based on a proliferation of new, machinery-intensive technologies.
Book Synopsis Counterfactuals, Forecasts, and Choice-theoretic Modelling of Policy by : Herschel Ivan Grossman
Download or read book Counterfactuals, Forecasts, and Choice-theoretic Modelling of Policy written by Herschel Ivan Grossman and published by . This book was released on 1984 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the problem of formulating an analysis of economic policy that is consistent with rational expectations. Cooley, LeRoy, and Raymon show that the Lucas and Sargent strategy for econometric policy evaluation is itself vulnerable to the logic of the Lucas critique. The present discussion develops the distinction between counter factuals and forecasts to clarify the nature of the inconsistencies in the Lucas and Sargent strategy. The paper goes on to propose and to illustrate a strategy for positive economic analysis that incorporates choice-theoretical modelling of policy. Such modelling can allow better forecasting, but it also shifts attention away from policy actions and their effects and towards the more fundamental relation between the policymaker's constraints and targets and economic outcomes. The forecasting problem in a choice-theoretic model of policy concerns the effects of hypothetical realizations of variables that determine the policymaker's constraints and targets. The analysis of counter factuals in this context recognizes that the parameters of the policy process are not invariant with respect to the processes that generate these exogenous variables. A program of positive economics that includes choice-theoretic modelling of policy also preserves a distinct role for policy advice as part of the process being modelled.
Book Synopsis The Social Security Student Benefit Program and Family Decisions by : Ronald G. Ehrenberg
Download or read book The Social Security Student Benefit Program and Family Decisions written by Ronald G. Ehrenberg and published by . This book was released on 1984 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1965 Congress established the Social Security Student Benefit Program which provided benefits for children of deceased, disabled or retired workers,who were enrolled in college full-time and were not married, up until thesemester they turned age 22. The program grew to be a major financial aid program; at its peak in FY 81 it represented about 20% of all federal outlays on student assistance for higher education. The program was terminated for students newly entering college as of May 1, 1982. Somewhat surprisingly, in contrast to the debate that accompanies most social programs, debate over the student benefit program focused on its costs and almost totally ignored the possible effects of the program. Virtually nothing is known about how the program influenced potential recipients decisions to attend college, the quality of the education they received, the amount that recipients' families contributed to the student's education, or recipients' in-school and summer employment.This paper seeks to shed insights into some of these effects, using data from the Social Security Administration's 1973 Survey of Student Beneficiaries the only national survey of participants in the program.
