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Author : Ming-Yee Hsu
Publisher :
ISBN 13 : 9783897001633
Total Pages : 80 pages
Book Rating : 4.0/5 (16 download)
Download or read book The Puzzle of the American Personal Savings Rate written by Ming-Yee Hsu and published by . This book was released on 2001 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Decline in U.S. Personal Saving Rate written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1990s, the national income and product accounts personal saving rate for the United States has been trending down, dropping into negative territory for three months during the past two years. This paper examines measurement problems surrounding two of the standard definitions of the personal saving rate. The authors conclude that, despite these measurement problems, the recent decline of the United States personal saving rate to low levels seems to be a real economic phenomenon and may be a cause for concern for several reasons. After examining several possible explanations for the trend advanced in the recent literature, the authors conclude that none of them provides a compelling explanation for the steep decline and negative levels of the United States personal saving rate.
Author : Mr.Sam Ouliaris
Publisher : International Monetary Fund
ISBN 13 : 1484357949
Total Pages : 34 pages
Book Rating : 4.4/5 (843 download)
Download or read book The U.S. Personal Saving Rate written by Mr.Sam Ouliaris and published by International Monetary Fund. This book was released on 2018-06-05 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a time series model for aggregate consumption to predict the U.S. personal saving rate. It then uses the model to test whether there has been a structural break in consumption behavior because of the 2008 financial crisis. Before the crisis, the personal saving rate was trending downwards. However, in 2008 there was a significant rise in the saving rate that continued until the end of 2012, suggesting a permanent change in household behavior. To assess this issue formally, the unknown parameters of the model are estimated using data for 1961Q1-2007Q4, a period which precedes the crisis. The model is then used to predict the saving rate from 2008Q1 onwards and to assess whether the rise in the saving rate after 2008 was due to sizable, but transitory, income/wealth shocks or to changes in the underlying elasticities between saving and its determinants (hence structural). The statistical evidence suggests there was no structural break in the household saving behavior, implying that the rise in the saving rate during 2008-2012 was caused by the negative shocks to income, employment and wealth. This result explains why the saving rate resumed its decline in 2013, as real disposable income, employment and net worth recovered. Assuming that the real growth in these determinants remains strong, the estimated model predicts continued negative pressures on the current account deficit and further external imbalances attributable to the U.S. household sector.
Author : Simon Reich
Publisher : Princeton University Press
ISBN 13 : 1400850428
Total Pages : 207 pages
Book Rating : 4.4/5 (8 download)
Download or read book Good-Bye Hegemony! written by Simon Reich and published by Princeton University Press. This book was released on 2014-03-23 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many policymakers, journalists, and scholars insist that U.S. hegemony is essential for warding off global chaos. Good-Bye Hegemony! argues that hegemony is a fiction propagated to support a large defense establishment, justify American claims to world leadership, and buttress the self-esteem of voters. It is also contrary to American interests and the global order. Simon Reich and Richard Ned Lebow argue that hegemony should instead find expression in agenda setting, economic custodianship, and the sponsorship of global initiatives. Today, these functions are diffused through the system, with European countries, China, and lesser powers making important contributions. In contrast, the United States has often been a source of political and economic instability. Rejecting the focus on power common to American realists and liberals, the authors offer a novel analysis of influence. In the process, they differentiate influence from power and power from material resources. Their analysis shows why the United States, the greatest power the world has ever seen, is increasingly incapable of translating its power into influence. Reich and Lebow use their analysis to formulate a more realistic place for America in world affairs.
Author :
Publisher :
ISBN 13 : 9780262024761
Total Pages : pages
Book Rating : 4.0/5 (247 download)
Download or read book NBER Macroeconomics Annual written by and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christopher Brown
Publisher : Edward Elgar Publishing
ISBN 13 : 1848443803
Total Pages : 199 pages
Book Rating : 4.8/5 (484 download)
Download or read book Inequality, Consumer Credit and the Saving Puzzle written by Christopher Brown and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . provides an excellent example of economic analysis using atypical analytical approaches. . . the book is very accessible, especially to readers with some grounding in economics. Mathematical models and empirical evidence are appropriately used and the writing is superb. Advanced undergraduates and graduate students should be able to follow the analysis and will benefit from seeing the alternative analytics at work. Of course economists of all stripes will find something useful in this book as will anyone with a strong interest in understanding the current economic crisis. Richard V. Adkisson, The Social Science Journal For those who do not mind a stimulating read, the book by Christopher Brown, Inequality, Consumer Credit and the Saving Puzzle, is recommended. . . the book is exciting, tracing the causes for the uncommonly low savings rate in American households. . . this book is written in nearly colloquial language and easily understood. It is divided into eight chapters, each of which addresses one theme group, respectively. The author evaluates in detail literary sources, and also examines alternative approaches, but always returns to his line of thought. Relationships that he perceives as important are exemplified through small models. In addition to that, he always attempts to support the central thesis with statistics. In particular, to read those statistics is very exciting. Conclusion: a book definitely worth reading. Friedrich Thießen, Bankhistorisches Archiv Brown makes an important contribution to the field of consumer credit by presenting a broad view of the issues and problems associated with growing consumer credit habits, culture, and institutions. . . This book effectively uses a heterodox methodology, which will appeal to a wide audience of social scientists. Highly recommended. R.H. Scott, Choice Providing much needed context for current events like the sub-prime mortgage crisis, this timely book presents a vision of an economy evolved to greater dependence on consumer credit and analyzes the trade-offs and risks associated with it. While synthesizing the Keynesian theory of consumption with the Institutional theory of habit selection (brought up to date with new knowledge from evolutionary biology and neuroscience), this book represents an in-depth treatment of the macroeconomic dimensions of consumer credit and implications of recent financial innovations from a non-traditional economic approach. Some of the effects of consumer credit dependence include the potential for illiquidity in markets for debt-collateralized securities, sub-prime contagion, or the possibility of a Minsky-type debt deflation episode. The author also argues that a sharp increase in borrowing by US households over the past 20 years, aided by financial innovations such as the securitization of consumer loans and sub-prime lending, have lessened the harmful consequences of income inequality, and that the collapse of personal saving after 1993 is actually a gradual trend of consumer habits conforming to the imperatives of corporatism. The book s primary audience will be academic economists in sympathy with heterodox and pluralist approaches. It sets forth an institutional or top-down theory of household spending behavior that should be of interest to readers in fields such as sociology, consumer or family studies, psychology, or anthropology. Much of the book is technically accessible for non-economists and students.
Author : Joseph P. H. Fan
Publisher : University of Chicago Press
ISBN 13 : 0226237249
Total Pages : 401 pages
Book Rating : 4.2/5 (262 download)
Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."
Author : John E. Grable
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110727706
Total Pages : 510 pages
Book Rating : 4.1/5 (17 download)
Download or read book De Gruyter Handbook of Personal Finance written by John E. Grable and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-03-07 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: The De Gruyter Handbook of Personal Finance provides a robust review of the core topics comprising personal finance, including the primary models, approaches, and methodologies being used to study particular topics that comprise the field of personal finance today. The contributors include many of the world’s leading personal finance researchers, financial service professionals, thought leaders, and leading contemporary figures conducting research in this area whose work has shaped—and continues to affect—the way that personal finance is conceptualized and practiced. The first section of the handbook provides a broad introduction to the discipline of personal finance. The following two sections are organized around the core elements of personal finance research and practice: saving, investing, asset management, and financial security. The fourth section introduces future research, practice, and policy directions. The handbook concludes with a discussion on an educational and research agenda for the future. This handbook will be a core reference work for researchers, financial service practitioners, educators, and policymakers and an excellent supplementary source of readings for those teaching undergraduate and graduate-level courses in personal finance, financial planning, consumer studies, and household finance.
Author : Kati Suominen
Publisher : Stanford University Press
ISBN 13 : 0804784906
Total Pages : 330 pages
Book Rating : 4.8/5 (47 download)
Download or read book Peerless and Periled written by Kati Suominen and published by Stanford University Press. This book was released on 2012-06-20 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the world economy emerges from the financial crisis, critics are announcing an end of the American era. The United States is said to be in an inexorable decline, and the expectation for the 21st century is for China to eclipse America and for the contours of global governance to blur. The loss of America's preeminent status will undercut our sway abroad and our safety and standard of living at home. But is America really done? Is the American era really over? In this provocative account, based on interviews with senior policymakers and cutting-edge research, Kati Suominen argues that talk of the end of Pax Americana is more smoke than fire. The international crisis did not fundamentally change the way the world is run. The G20 is but an American-created sequel to the G8, the US dollar still reigns supreme, and no country has resigned from the US-built, post-war financial institutions like the International Monetary Fund. This continuity reflects an absence of alternatives; there are no rival orders that would match the growth and globalization generated by leaving the United States at the helm. But Washington has no time for complacency. The American order is peerless, but it is also imperiled. To transcend this critical moment in history, the United States must step up and lead. Only America can uphold its order. In an interdependent world economy of rising powers, the US must stand for strategic multilateralism: striking deals with pivotal powers to tame destabilizing financial imbalances, securing free and fair markets abroad for US banks and businesses, and transforming the IMF and emerging Asian and European financial schemes into rapid responders to instability.
Author : Amy Chua
Publisher :
ISBN 13 : 1594205469
Total Pages : 338 pages
Book Rating : 4.5/5 (942 download)
Download or read book The Triple Package written by Amy Chua and published by . This book was released on 2014 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: "It may be taboo to say so, but some groups in this country do better than others. Mormon, Cuban, Nigerian, and Chinese Americans have all recently achieved astonishing business success. This book uncovers the secret to their success."--Page 4 de la couverture.
Author : Shlomo Benartzi
Publisher : Penguin
ISBN 13 : 110158033X
Total Pages : 288 pages
Book Rating : 4.1/5 (15 download)
Download or read book Save More Tomorrow written by Shlomo Benartzi and published by Penguin. This book was released on 2012-04-12 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the world’s top experts in behavioral finance offers innovative strategies for improving 401(k) plans. Half of Americans do not have access to a retirement saving plan at their workplace. Of those who do about a third fail to join. And those who do join tend to save too little and often make unwise investment decisions. In short, the 401(k) world is in crisis, and workers need help. Save More Tomorrow provides that help by focusing on the behavioral challenges that led to this crisis inertia, limited self-control, loss aversion, and myopia—and transforms them into behavioral solutions. These solutions, or tools, are based on cutting edge behavioral finance research and they can dramatically improve outcomes by, for example, helping employees: -Save, even if they aren’t ready to do so now, by using future enrollment. -Save more by showing them images of their future selves. -Save smarter by reshuffling the order of funds on the investment menu. Save More Tomorrow is the first comprehensive application of behavioral finance to improve retirement outcomes. It also makes it easy for plan sponsors and their advisers to apply these behavioral tools using its innovative Behavioral Audit process.
Author : Jed Rubenfeld
Publisher : A&C Black
ISBN 13 : 1408852225
Total Pages : 205 pages
Book Rating : 4.4/5 (88 download)
Download or read book The Triple Package written by Jed Rubenfeld and published by A&C Black. This book was released on 2014-02-05 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do Jews win so many Nobel Prizes and Pulitzer Prizes? Why are Mormons running the business and finance sectors? Why do the children of even impoverished and poorly educated Chinese immigrants excel so remarkably at school? It may be taboo to say it, but some cultural groups starkly outperform others. The bestselling husband and wife team Amy Chua, author of Battle Hymn of the Tiger Mother, and Jed Rubenfeld, author of The Interpretation of Murder, reveal the three essential components of success – its hidden spurs, inner dynamics and its potentially damaging costs – showing how, ultimately, when properly understood and harnessed, the Triple Package can put anyone on their chosen path to success.
Author : Alfred E. Eckes, Jr.
Publisher : John Wiley & Sons
ISBN 13 : 1405183446
Total Pages : 319 pages
Book Rating : 4.4/5 (51 download)
Download or read book The Contemporary Global Economy written by Alfred E. Eckes, Jr. and published by John Wiley & Sons. This book was released on 2011-05-06 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Contemporary Global Economy provides a lively overview of recent turbulence in the world economy, focusing on the dynamics of globalization since the 1980s. It explains the main drivers of economic change and how we are able to discern their effects in the world today. A lucid and balanced survey, based on extensive research in data and documents, accessible to the non-specialist Written by a renowned specialist in international economic relations with academic and government credentials Offers clear and engaging explanations of the main motors of economic change and how we are able to discern their effects in the world today The author assumes little knowledge of economic theory or financial markets Identifies the challenges for sustainable recovery and economic growth in the years ahead
Author : Charles Yuji Horioka
Publisher :
ISBN 13 :
Total Pages : 484 pages
Book Rating : 4.F/5 ( download)
Download or read book Household Saving in Japan written by Charles Yuji Horioka and published by . This book was released on 1986 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Marcos Chamon
Publisher : International Monetary Fund
ISBN 13 : 1455211702
Total Pages : 36 pages
Book Rating : 4.4/5 (552 download)
Download or read book Income Uncertainty and Household Savings in China written by Mr.Marcos Chamon and published by International Monetary Fund. This book was released on 2010-12-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we document that strong average income growth has been accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains stable while it is the transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among older households are consistent with a decline in the pension replacement ratio for those retiring after 1997. We conclude that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid-1990s as well as the U-shaped age-profile of savings.
Author : J. Thomas Moore
Publisher : John Wiley & Sons
ISBN 13 : 0471650889
Total Pages : 301 pages
Book Rating : 4.4/5 (716 download)
Download or read book Last Chance to Get It Right! written by J. Thomas Moore and published by John Wiley & Sons. This book was released on 2004-03-04 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Last Chance to Get It Right! "Tom Moore is one of the capable professionals who made me look good in the last thirty years of my forty-five year career at A.G. Edwards & Sons. He has put together a primer which should help both new and veteran investors understand financial markets and alternatives, and gain a direction and common-sense approach to their estate planning." -Benjamin F. Edwards III, Chairman Emeritus A. G. Edwards & Sons "Tom Moore's grasp of the problems of retirement planning is superb; his methods of solving those problems unrivalled." -Richard Austin, past president of Templeton Funds Annuity Company currently a Retirement Income Planning Consultant "Tom has spelled out in plain English, just what it takes to create and implement a successful retirement plan. Boomers and non-boomers alike, will find his step-by-step road map very helpful." -M. Ellen Simmons, JD, CPA Between Social Security uncertainty and uneasiness in the stock market, Americans today face a more uncertain financial future than at any time in decades. Ironically, our response to this growing emergency is to spend more, save less, and put off necessary preparations until tomorrow. Buckle up, because tomorrow has arrived. Last Chance to Get It Right! outlines a step-by-step program designed to help you: * Increase the size of your nest egg-for a long, enjoyable retirement * Slash your income tax bill-both today and throughout your life * Reduce your estate taxes-to preserve the assets you fought so hard to build Are you truly prepared for the financial future facing you and your family? Let Last Chance to Get It Right! give you the knowledge and tools you need to stop making financial mistakes today-and put more money in your pocket tomorrow.
Author :
Publisher :
ISBN 13 :
Total Pages : 606 pages
Book Rating : 4.F/5 ( download)
Download or read book The American Interest written by and published by . This book was released on 2005 with total page 606 pages. Available in PDF, EPUB and Kindle. Book excerpt:
