Showing 1 - 10 of 28
We estimate the age distribution’s effect on business cycle fluctuations across a large number of countries. A 10 percentage point increase in the middle-aged share of the population decreases output volatility by 15 percent for the average country.
Persistent link: https://www.econbiz.de/10010594170
Persistent link: https://www.econbiz.de/10010042025
Troy Davig and Michael Redmond gauge the contributions of three factors to the declining U.S. federal budget deficit.
Persistent link: https://www.econbiz.de/10011185864
After rising substantially during the Great Recession, the U.S. federal budget deficit has narrowed the past few years. While policy reforms and cyclical economic recovery have certainly contributed to this improvement, an array of temporary factors such as Federal Reserve remittances, dividends...
Persistent link: https://www.econbiz.de/10011185870
Persistent link: https://www.econbiz.de/10006654555
Persistent link: https://www.econbiz.de/10005337975
This paper studies the effect that changing demographic patterns have had on the house- hold saving rate in China. We undertake a quantitative investigation using an overlapping generations (OLG) model where agents live for 85 years. Consumers begin to exercise deci- sion making when they are...
Persistent link: https://www.econbiz.de/10011081318
We decompose the household saving rate into precautionary and non-precautionary components. When applied to Chinese households, who save 30% of disposable income, the precautionary motive accounts for two-thirds of that saving rate. For some admissible parameter values, the saving rate increases...
Persistent link: https://www.econbiz.de/10011081833
This paper studies how demographic variation affects the aggregate household saving rate. We focus on China because it is experiencing an historic demographic transition and has had a massive increase in household saving. We conduct a quantitative investigation using a structural overlapping...
Persistent link: https://www.econbiz.de/10011240317
The saving rate in China is high by historical and international norms. The high saving rate has funded capital accumulation which in turn has been the primary driver of China's economic growth. We review the evidence on Chinese household saving and conduct a small study to assess the importance...
Persistent link: https://www.econbiz.de/10010826801