Showing 1 - 10 of 1,132
Using two measures of the fiscal position, the cyclically adjusted primary budget balance (CAPB) and the total budget balance, we assess the Twin Deficit Hypothesis for the Euro Area in the period 1995-2020. Furthermore, we estimate time-varying coefficients of the current account balance...
Persistent link: https://www.econbiz.de/10013306033
The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...
Persistent link: https://www.econbiz.de/10013221180
This paper investigates the impact of public employment on household saving rates in China using representative … demographic factors, we show that households headed by public employees have higher saving rates than other households. This … children and they have a higher saving capacity than non-public employees due to better social security. Our results contribute …
Persistent link: https://www.econbiz.de/10013289689
asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the … the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …
Persistent link: https://www.econbiz.de/10013316692
We assess the cointegration relationship between current account and budget balances, and effective real exchange rates, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship between the two imbalances for each country for the...
Persistent link: https://www.econbiz.de/10010264569
A large fraction of households have very little savings buffer and are therefore vulnerable to financial shocks. This … link to a personal web page where they can start or adjust an automatic savings plan. However, analyzing detailed bank data …, we find no treatment effect on actual savings, neither in the short run nor in the long run. Our null findings are quite …
Persistent link: https://www.econbiz.de/10013245632
Bilateral trade imbalances are determined by aggregate trade imbalances, production and expenditure patterns, and trade barriers. We calibrate a dynamic many-sector trade model to match the recent sectoral trade and production shares of 40 economies and the rest of the world. Through a variance...
Persistent link: https://www.econbiz.de/10012861448
cycle. Decreasing discounting helps a canonical life-cycle model to explain the household saving puzzles of undersaving when …
Persistent link: https://www.econbiz.de/10013239561
We examine the dynamic impact of household borrowing on the trade balance using data from 33 developing countries and 36 developed countries over the 1980-2017 period. Our findings suggest that the impact of household borrowing on the trade balance is by and large negative, both in the short and...
Persistent link: https://www.econbiz.de/10013224078
The paper examines episodes of current account adjustment in individual economies. A central finding is that these episodes are very divergent and can be usefully classified, on the basis of cluster analysis, in three groups. A majority of cases is characterised by internal adjustment,...
Persistent link: https://www.econbiz.de/10013317000