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Effects of productivity growth on domestic savings across countries : disentangling the roles of trend and cycle

Kumar, Abhishek; Mallick, Sushanta Kumar; Sen, Kunal - 2020

what determines differences in saving behaviour across countries. Using a panel of 47 economies with at least 40 years of … and cyclical shocks to uncover that cyclical productivity shocks tend to have a strong positive effect on saving rates … robust, and we reconfirm that large declines in productivity shocks were associated with large decline in saving rates …

Persistent link: https://www.econbiz.de/10012321005

The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate

Pintus, Patrick A.; Wen, Yi; Xing, Xiaochuan - 2019

The interest rate at which US firms borrow funds has two features: (i) it moves in a countercyclical fashion and (ii) it is an inverted leading indicator of real economic activity: low interest rates today forecast future booms in GDP, consumption, investment, and employment. We show that a...

Persistent link: https://www.econbiz.de/10014123908

The Inverted Leading Indicator Property and Redistribution Effect of the Interest Rate

Pintus, Patrick A. - 2017

Persistent link: https://www.econbiz.de/10012964846

Macroeconomic Disasters and the Equity Premium Puzzle : Are Emerging Countries Riskier?

Horvath, Jaroslav - 2019

Not necessarily. I provide evidence that advanced countries' equity premium and consumption growth differ significantly from those of emerging countries. I then estimate distinct disaster risk parameters for these two country groups. My Bayesian analysis demonstrates that in some aspects...

Persistent link: https://www.econbiz.de/10012902819

Interest Rate Dynamics, Variable-Rate Loan Contracts, and the Business Cycle

Pintus, Patrick A. - 2019

The interest rate at which US firms borrow funds has two features: (i) it moves in a countercyclical fashion and (ii) it is an inverted leading indicator of real economic activity: low interest rates forecast booms in GDP, consumption, investment, and employment. We show that a Kiyotaki-Moore...

Persistent link: https://www.econbiz.de/10012903888

A note on temporary supply shocks with aggregate demand inertia

Caballero, Ricardo J.; Simsek, Alp - 2022

We study optimal monetary policy during temporary supply contractions when aggregate demand has inertia and expansionary policy is constrained. In this environment, it is optimal to run the economy hot until supply recovers. Positive output gaps in the low-supply phase lessen the negative output...

Persistent link: https://www.econbiz.de/10012886884

Chapter 11. Macroeconomics and Household Heterogeneity

Krueger, D.; Mitman, K.; Perri, F. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 843-921). 2016

little net worth that sharply increase their saving (ie, they are not hand-to mouth) as the recession hits. We document that … business cycles. …

Persistent link: https://www.econbiz.de/10014024277

Trend Shocks and the Countercyclical U.S. Current Account

Amdur, David - 2012

From 1960-2009, the U.S. current account balance has tended to decline during expansions and improve in recessions. We argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two-country, two-good real business cycle (RBC) model in...

Persistent link: https://www.econbiz.de/10013103623

Labor Market Dynamics under Technology Shocks : the Role of Subsistence Consumption

Choi, Sangyup - 2019

Although much is known about labor market dynamics under technology shocks in advanced economies, this is not true for developing economies. This study bridges this gap in the literature by establishing new stylized facts in labor market dynamics. First, the response of hours worked (and...

Persistent link: https://www.econbiz.de/10012896950

Energy Price Shocks, Unemployment, and Monetary Policy

Gnocato, Nicolò - 2023

energy prices induce a novel precautionary saving motive: the consumption losses upon unemployment are increased …

Persistent link: https://www.econbiz.de/10014354473