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Accumulation and the Extent of Inequality

Bertola, Giuseppe - C.E.P.R. Discussion Papers - 1995

between factor- and personal-income distribution are studied in the light of existing analytic results from the precautionary-savings … literature, and by numerical solution experiments. Aggregate savings are an increasing function of non-accumulated income …

Persistent link: https://www.econbiz.de/10005124028

Financial Education and Access to Savings Accounts: Complements or Substitutes? Evidence from Ugandan Youth Clubs

Jamison, Julian C.; Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2014

Evidence on the effectiveness of financial education and formal savings account access is lacking, particularly for … shows the education plus account treatment increases bank savings relative to account-only. But survey-measured total … savings shows roughly equal increases across all treatment arms. Earned income also increases in all treatment arms. We find …

Persistent link: https://www.econbiz.de/10011084404

Female Empowerment: Impact of a Commitment Savings Product in the Philippines

Ashraf, Nava; Karlan, Dean S.; Yin, Wesley - C.E.P.R. Discussion Papers - 2007

women. Here, using a randomized controlled trial, we examine whether access to an individually-held commitment savings …

Persistent link: https://www.econbiz.de/10005792103

Escaping Nash and Volatile Inflation

Ellison, Martin; Yates, Tony - C.E.P.R. Discussion Papers - 2007

Why is inflation so much lower and at the same time more stable in developed economies in the 1990s, compared with the 1970s? This paper suggests that the United Kingdom, United States and other countries may have escaped from a volatile inflation equilibrium. Our argument builds on the story...

Persistent link: https://www.econbiz.de/10005504556

Unemployment, Investment and Sectoral Reallocation

Chadha, Bankim; Coricelli, Fabrizio - C.E.P.R. Discussion Papers - 1995

This paper presents a model of development of an economy comprised of a rural-agricultural sector and an urban-industrial sector. The interaction of investment with unemployment creates a channel for potentially divergent long-run outcomes. If the urban-industrial capital stock falls short of a...

Persistent link: https://www.econbiz.de/10005504722

Exchange Rate Flexibility under the Zero Lower Bound

Cook, David; Devereux, Michael B - C.E.P.R. Discussion Papers - 2014

An independent currency and a flexible exchange rate generally helps a country in adjusting to macroeconomic shocks. But recently in many countries, interest rates have been pushed down close to the lower bound, limiting the ability of policy-makers to accommodate shocks, even in countries with...

Persistent link: https://www.econbiz.de/10011083336

The Social Cost of Near-Rational Investment

Hassan, Tarek; Mertens, Thomas M. - C.E.P.R. Discussion Papers - 2014

We show that the stock market may fail to aggregate information even if it appears to be efficient and that the resulting decrease in the information content of stock prices may drastically reduce welfare. We solve a macroeconomic model in which information about fundamentals is dispersed and...

Persistent link: https://www.econbiz.de/10011083430

Moving to a Job: The Role of Home Equity, Debt, and Access to Credit

Demyanyk, Yuliya; Hryshko, Dmytro; Luengo-Prado, Maria Jose - C.E.P.R. Discussion Papers - 2013

Using credit report data from two of the three major credit bureaus in the United States, we infer with high certainty whether households move to other labor markets defined by metropolitan areas. We estimate how moving patterns relate to labor market conditions, personal credit, and...

Persistent link: https://www.econbiz.de/10011083450

Debt Crises and Risk Sharing: The Role of Markets versus Sovereigns

Kalemli-Ozcan, Sebnem; Luttini, Emiliano; Sørensen, Bent E - C.E.P.R. Discussion Papers - 2013

Using a variance decomposition of shocks to GDP, we quantify the role of international factor income, international transfers, and saving in achieving risk sharing during the recent European crisis. We focus on the sub-periods 1990--2007, 2008--2009, and 2010 and consider separately the European...

Persistent link: https://www.econbiz.de/10011083538

Information Aggregation in a DSGE Model

Hassan, Tarek; Mertens, Thomas M. - C.E.P.R. Discussion Papers - 2014

to learn about the future affects their consumption-savings decision. The equity premium falls and the risk-free interest …

Persistent link: https://www.econbiz.de/10011083546