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Oil Prices, Exchange Rates and Interest Rates

Kilian, Lutz - 2019

There has been much interest in the relationship between the price of crude oil, the value of the U.S. dollar, and the U.S. interest rate since the 1980s. For example, the sustained surge in the real price of oil in the 2000s is often attributed to the declining real value of the U.S. dollar as...

Persistent link: https://www.econbiz.de/10012892101

The Anatomy of the Global Saving Glut

Bauluz, Luis; Novokmet, Filip; Schularick, Moritz - 2022

China. In the past four decades, global saving inequality has risen sharply. The share of household saving flows coming from …

Persistent link: https://www.econbiz.de/10013289697

The Political Costs of Oil Price Shocks

Arezki, Rabah; Djankov, Simeon; Nguyen, Ha; Yotzov, Ivan - 2022

We explore the effect of oil import price shocks on political outcomes using a worldwide dataset on elections of chief executives. Oil import price shocks cause a reduction in the odds of reelection of incumbents, an increase in media chatter about fuel prices, and an increase in non-violent...

Persistent link: https://www.econbiz.de/10014083047

Oil Prices, Exchange Rates and Interest Rates

Kilian, Lutz; Zhou, Xiaoqing - 2019

Persistent link: https://www.econbiz.de/10012018175

Determinants of Japanese Household Saving Behavior in the Low-Interest Rate Environment

Latsos, Sophia Anastasia; Schnabl, Gunther - 2021

This paper scrutinizes the role of prolonged, expansionary monetary policy on the savings behavior of Japanese … households, focusing on the dramatic change of the household savings rate since 1998, from high to low savings. The literature … channel but not the labor income channel. There is also evidence that rising wealth boosts savings …

Persistent link: https://www.econbiz.de/10013239569

Indebted Demand

Mian, Atif - 2020

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation that borrowers and savers differ in their marginal...

Persistent link: https://www.econbiz.de/10012836950

Does Public Employment Affect Household Saving Rates? Evidence from Chinese Household Data

Xu, Can; Steiner, Andreas - 2022

This paper investigates the impact of public employment on household saving rates in China using representative …

Persistent link: https://www.econbiz.de/10013289689

Inflation Tales: The Heterogenous Price Effects from Current Account Dynamics

Afonso, António; Alves, José; Jalles, João; … - 2024

This paper examines the impact of current account balances on energy, headline, and core inflation across developed and developing economies from 1980 to 2023. Using Panel OLS fixed effects, Panel-IV 2SLS and Panel Vector Autoregressive models, we find that an improvement in the current account...

Persistent link: https://www.econbiz.de/10015175315

Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - 2010

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...

Persistent link: https://www.econbiz.de/10010275023

Macroeconomic Policy Making and Current Account Imbalances in the Euro Area

Murai, Taiki; Schnabl, Gunther - 2021

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