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Household Saving And Income Uncertainty Empirical Evidence And Implications For Monetary Policy
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Book Synopsis Income Uncertainty and Household Savings in China by : Mr.Marcos Chamon
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.
Book Synopsis Inflation Expectations by : Peter J. N. Sinclair
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Book Synopsis The Effectiveness of Fiscal Policy in Stimulating Economic Activity by : Richard Hemming
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Book Synopsis The Evidence and Impact of Financial Globalization by :
Download or read book The Evidence and Impact of Financial Globalization written by and published by Academic Press. This book was released on 2012-12-31 with total page 807 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. - Substantial articles by top scholars sets this volume apart from other information sources - Rapidly developing subjects will interest readers well into the future - Reader demand and lack of competitors underline the high value of these reference works
Book Synopsis National Saving and Economic Performance by : B. Douglas Bernheim
Download or read book National Saving and Economic Performance written by B. Douglas Bernheim and published by University of Chicago Press. This book was released on 1991-05 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: "... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
Book Synopsis Emerging Markets and the Global Economy by : Mohammed El Hedi Arouri
Download or read book Emerging Markets and the Global Economy written by Mohammed El Hedi Arouri and published by Academic Press. This book was released on 2013-12-26 with total page 927 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan - Concentrates on post-crisis roles of emerging markets in the global economy - Reports on key theoretical and technical developments in emerging financial markets - Forecasts future developments in linkages among developed and emerging economies
Book Synopsis Household Leverage and the Recession by : Callum Jones
Download or read book Household Leverage and the Recession written by Callum Jones and published by International Monetary Fund. This book was released on 2018-08-30 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate and partially challenge the ‘household leverage’ view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to changes in debt. We estimate the model with Bayesian methods combining state and aggregate data. Changes in household credit limits explain 40 percent of the differential rise and fall of employment across states, but a small fraction of the aggregate employment decline in 2008-2010. Nevertheless, since household deleveraging was gradual, credit shocks greatly slowed the recovery.
Book Synopsis The Economics of the Government Budget Constraint by : Stanley Fischer
Download or read book The Economics of the Government Budget Constraint written by Stanley Fischer and published by World Bank Publications. This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Understanding the Chinese Economies by : Rongxing Guo
Download or read book Understanding the Chinese Economies written by Rongxing Guo and published by Academic Press. This book was released on 2012-09-05 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary: "Systematic introduction to the economies of China by describing their external and internal drivers and by placing them within geopolitical and even socio-cultural boundaries. His pairings of case studies and empirical techniques reveal a rich, deep appreciation of the growth process and of interactions between key factors. ... Covering history and administrative structures, unique economic features, some domestic economic issues, and international economic engagement, it describes an often inaccessible perspective with nuances all students of China will find valuable."--Publisher description.
Book Synopsis The High-Beta Rich by : Robert Frank
Download or read book The High-Beta Rich written by Robert Frank and published by Crown Pub. This book was released on 2011 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses how the "high-beta rich"--upper class Americans prone to wild swings of wealth--and their erratic spending habits have affected the economy as a whole, and will help mold the financial future of the country.
Book Synopsis The World Bank Research Observer by :
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries by : International Monetary Fund
Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Book Synopsis Public Expenditures on Social Programs and Household Consumption in China by : Mr.David Coady
Download or read book Public Expenditures on Social Programs and Household Consumption in China written by Mr.David Coady and published by International Monetary Fund. This book was released on 2010-03-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that increasing government social expenditures can make a substantive contribution to increasing household consumption in China. The paper first undertakes an empirical study of the relationship between the savings rate and social expenditures for a panel of OECD countries and provides illustrative estimates of their implications for China. It then applies a generational accounting framework to Chinese household income survey data. This analysis suggests that a sustained 1 percent of GDP increase in public expenditures, distributed equally across education, health, and pensions, would result in a permanent increase the household consumption ratio of 11⁄4 percentage points of GDP.
Book Synopsis Introduction to Agent-Based Economics by : Mauro Gallegati
Download or read book Introduction to Agent-Based Economics written by Mauro Gallegati and published by Academic Press. This book was released on 2017-08-03 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Agent-Based Economics describes the principal elements of agent-based computational economics (ACE). It illustrates ACE's theoretical foundations, which are rooted in the application of the concept of complexity to the social sciences, and it depicts its growth and development from a non-linear out-of-equilibrium approach to a state-of-the-art agent-based macroeconomics. The book helps readers gain a better understanding of the limits and perspectives of the ACE models and their capacity to reproduce economic phenomena and empirical patterns. - Reviews the literature of agent-based computational economics - Analyzes approaches to agents' expectations - Covers one of the few large macroeconomic agent-based models, the Modellaccio - Illustrates both analytical and computational methodologies for producing tractable solutions of macro ACE models - Describes diffusion and amplification mechanisms - Depicts macroeconomic experiments related to ACE implementations
Book Synopsis Understanding Consumption by : Angus Deaton
Download or read book Understanding Consumption written by Angus Deaton and published by Oxford University Press. This book was released on 1992 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: An overview of the saving and consumption patterns of households
Book Synopsis Proceedings of the International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI 2022) by : Donard Games
Download or read book Proceedings of the International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI 2022) written by Donard Games and published by Springer Nature. This book was released on 2024-02-10 with total page 757 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book.The International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI) is a pioneer conference on entrepreneurship, leadership, and innovation in the higher education environment that focuses on the research-oriented output from academics and practitioners. The conference’s theme, ‘Fostering university-based entrepreneurship in the digital economy era,’ encourages entrepreneurship activists to become a catalyst for creating creative jobs and increasing economic growth, especially in the digital era.
Book Synopsis Hearings, Reports and Prints of the Senate Committee on Finance by : United States. Congress. Senate. Committee on Finance
Download or read book Hearings, Reports and Prints of the Senate Committee on Finance written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1977 with total page 1390 pages. Available in PDF, EPUB and Kindle. Book excerpt:
