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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 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
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Consumption, (Dis)Aggregate Wealth and Asset Returns
Sousa, Ricardo M. - Society for Computational Economics - SCE - 2006
among consumption, financial wealth, housing wealth and labor income (summarized by the variable cday) should help to … different assets; and (ii) the faster rate of convergence of the coefficients to the "long-run equilibrium" parameters. Unlike …
Persistent link: https://www.econbiz.de/10005170552
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An approximate consumption function
Padula, Mario; Salerno, Università di - Society for Computational Economics - SCE - 2006
This notes proposes an approximation to the consumption function in the buffer-stock model. …
Persistent link: https://www.econbiz.de/10005706193
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On the stability of the wealth effect
Bação, Pedro; Alexandre, Fernando; Gabriel, Vasco J. - Society for Computational Economics - SCE - 2006
We argue that the equation commonly used in the estimation of the wealth effect on consumption might be unsuitable for … volatility increases. Estimation of a Markov-switching model of the usual long-run aggregate consumption equation provides …
Persistent link: https://www.econbiz.de/10005706243
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Fiscal Policy and Private Sector Saving Behavior : Tests of Ricardian Equivalence in Some Developing Economies
International Monetary Fund - 1987
Tax or debt financing of a given rate of government expenditures would, according to the now well-known Ricardian Equivalence proposition, have equivalent effects on aggregate demand. Among the reasons for a deviation from the equivalence is the possibility that the government and the private...
Persistent link: https://www.econbiz.de/10014396483
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Saudi Arabia; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This staff report on Saudi Arabia’s 2013 Article IV Consultation discusses economic policies and development. As the largest crude oil exporter, and the only producer with significant spare capacity, Saudi Arabia plays a systemic and stabilizing role in the global oil market. In 2011,...
Persistent link: https://www.econbiz.de/10011244901
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Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle
International Monetary Fund (IMF); International … - 2010
This paper presents a detailed analysis of the average fiscal policy responses of oil producing countries (OPCs) to the recent oil price cycle. We find that OPCs worsened their non-oil primary balances substantially during 2003-2008 driven by an increase in primary spending. However, this trend...
Persistent link: https://www.econbiz.de/10008519486
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Reconciling The Effects of Monetary Policy Actions on Consumption Within A Heterogeneous Agent Framework
Ahmad, Yamin - Society for Computational Economics - SCE - 2005
introduced into NNS models to try and reconcile the movements in interest rates, consumption and inflation. The key findings here … are that heterogeneity and wage inertia are needed to help reconcile these observations. Aggregate consumption and its … wages one periods in advance. When myopic households set wages in the current period, aggregate consumption and its expected …
Persistent link: https://www.econbiz.de/10005345080