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China's High Saving Puzzle
Ma, Guonan; Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2013
This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored.
Persistent link: https://www.econbiz.de/10010791521
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Aggregate Savings and External Imbalances in China
Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2012
Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified...
Persistent link: https://www.econbiz.de/10010791526
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Economic Growth and Political Integration: Estimating the Benefits from Membership in the European Union Using the Synthetic Counterfactuals Method
Campos, Nauro F; Coricelli, Fabrizio; Moretti, Luigi - Institute for the Study of Labor (IZA) - 2014
This paper presents new estimates of the economic benefits from economic and political integration. Using the synthetic counterfactuals method, we estimate how GDP per capita and labour productivity would have behaved for the countries that joined the European Union (EU) in the 1973, 1980s, 1995...
Persistent link: https://www.econbiz.de/10010764596
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North-South Technology Diffusion, Regional Integration, and the Dynamics of the "Natural Trading Partners" Hypothesis
Schiff, Maurice; Wang, Yanling - Institute for the Study of Labor (IZA) - 2004
Based on static analysis, a number of studies argue that forming a RTA is more likely to raise welfare if member countries are "natural trading partners," while other studies claim the opposite. This paper considers the argument from a dynamic viewpoint by examining the impact of trade with...
Persistent link: https://www.econbiz.de/10005703120
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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10008632737
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Time series evidence of international output convergence in Mercosur
Camarero, Mariam; Flôres, R.; Tamarit, C. - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005537661
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The Dynamics of Market Insurance, Insurable Assets, and Wealth Accumulation
Koeniger, Winfried - Institute for the Study of Labor (IZA) - 2002
in a model with non-durable and durable consumption. The stock of the durable is exposed to risk against which households …-durable consumption. Introducing labor income risk into the model does not necessarily increase the importance of market insurance if the …
Persistent link: https://www.econbiz.de/10005822601
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Indirect Effects of an Aid Program: The Case of Progresa and Consumption
Angelucci, Manuela; Giorgi, Giacomo De - Institute for the Study of Labor (IZA) - 2006
effects. We exploit the unique design of an aid program's experimental trial to identify its indirect effect on consumption …
Persistent link: https://www.econbiz.de/10005761976
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The Implications of Lower Down Payments on Consumption Volatility
Farr, Christopher; Luengo-Prado, Maria J. - Society for Computational Economics - SCE - 2001
We examine the effects of decreasing down payment requirements on consumption volatility within a model which … consumption becomes more volatile as down payment requirements decrease. This finding is true for both individual and aggregate … consumption, and it is robust to the inclusion of adjustment costs. Transitional dynamics imply that a financial liberalization …
Persistent link: https://www.econbiz.de/10005345569
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Second- and Higher-Order Consumption Functions: A Precautionary Tale
Feigenbaum, James - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005345652