Showing 1 - 10 of 691
When central banks announce cuts to future interest rates, the expected costs of government debt service decrease, generating additional resources in future budgets. This paper demonstrates that if the rational-expectations assumption is dropped, fiscal authority can exploit those gains by...
Persistent link: https://www.econbiz.de/10015213307
household-level data to estimate the elasticity of substitution between healthcare consumption and all other consumption. We … find robust evidence for the complementarity of healthcare consumption and all other consumption. …
Persistent link: https://www.econbiz.de/10015213432
increases in income inequality are associated with decreased aggregate consumption. The analysis reveals a systematic difference … in the relationship between income inequality and consumption expenditure across consumption categories In a theoretical … homothetic and non-homothetic preferences results in estimation equations that allow testing for non-homotheticity in consumption …
Persistent link: https://www.econbiz.de/10015213433
This paper analyzes the relationship between demographic change and automation while taking the role of education into account. This is illustrated by incorporating skilled and unskilled labor into a theoretical model. If labor supply by households decreases, for example, due to demographic...
Persistent link: https://www.econbiz.de/10015213434
Objective: Previous literature on optimal savings relies on specific utility and production technology functional forms which might not be able to produce robust results as different utility/production functions may lead to dramatically different or opposing results. This paper derives an...
Persistent link: https://www.econbiz.de/10015213678
Sub-Saharan Africa (SSA) accounts for a third of the countries on the Financial Action Task Force (FATF) grey list. In the Money Laundering and Terrorist Financing (ML/TF) Ranking and Risk Assessment Tool, the region performed poorly in terms of resilience to ML/TF, with more than 60% of...
Persistent link: https://www.econbiz.de/10015213679
Sub-Saharan Africa (SSA) accounts for a third of the countries on the Financial Action Task Force (FATF) grey list. In the Money Laundering and Terrorist Financing (ML/TF) Ranking and Risk Assessment Tool, the region performed poorly in terms of resilience to ML/TF, with more than 60% of...
Persistent link: https://www.econbiz.de/10015213680
This paper proposes a new approach to numerically solving a wide class of heterogeneous agent models in continuous time using adaptive sparse grids. I combine the sparse finite difference method with the sparse finite volume method to solve the Hamilton-Jacobian-Bellman equation and Kolmogorov...
Persistent link: https://www.econbiz.de/10015213699
focus on food demand and consumption patterns. It reviews various demand function systems and introduces the differential …) to analyse consumption patterns in Brazil, China, India, Russia, and South Africa. The methodology involves a two … consumption and food subcategories using pooled data from BRICS countries. It uses Tayebi's CBS-PI levels and CBS levels models to …
Persistent link: https://www.econbiz.de/10015213722
The current debate on financial inclusion pays little attention to whether financial inclusion is pro-cyclical with the fluctuating business cycle. This article investigates the relationship between financial inclusion and the business cycle. The findings reveal that the level of savings and the...
Persistent link: https://www.econbiz.de/10015213956