Download or read book Income and Consumption Smoothing Among US States written by Bent E. Sørensen and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Income and Consumption Smoothing Among U S States written by Bent E. Sørensen and published by . This book was released on 1996 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumption Smoothing Among Working class American Families Before Social Insurance written by John A. James and published by . This book was released on 1999 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Income and Consumption Smothing Among US States written by Bent E. Sørensen and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital Mobility written by Leonardo Leiderman and published by Cambridge University Press. This book was released on 1994-07-14 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume examines capital mobility in both industrialised and developing countries.
Download or read book National Saving and Economic Performance written by B. Douglas Bernheim and published by University of Chicago Press. This book was released on 1991-05 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: "... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
Download or read book Intranational Macroeconomics written by Gregory D. Hess and published by Cambridge University Press. This book was released on 2000-09-11 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings the intranational macroeconomics literature into clearer focus by collecting the strands of research into a common thread.
Download or read book Asymmetric Shocks Among U S States written by Marco Del Negro and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Income Smoothing Aand Consumption Smoothing written by Jonathan Morduch and published by . This book was released on 1995 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wealth Race and Consumption Smoothing of Typical Income Shocks written by Peter Ganong and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the elasticity of consumption with respect to income using an instrument based on firm-wide changes in pay. While much of the consumption-smoothing literature uses variation in unusual windfall income, this instrument captures the temporary income variation that households typically experience. Furthermore, this estimator is precise, allowing us to address an open question about how much the elasticity varies with wealth. We find a much lower consumption response for high-liquidity households, which may help discipline structural models. We then use this instrument to study how wealth shapes racial inequality. An extensive body of work documents a substantial racial wealth gap. However, less is known about how this gap translates into differences in welfare on a month-to-month basis. We find that black (Hispanic) households cut their consumption 50 (20) percent more than white households when faced with a similarly-sized income shock. Nearly all of this differential pass-through of income to consumption is explained, in a statistical sense, by differences in liquid wealth. Combining our empirical estimates with a model, we show that the welfare cost of income volatility is at least 50 percent higher for black households and 20 percent higher for Hispanic households than it is for white households.
Download or read book Fiscal Institutions and Fiscal Performance written by James M. Poterba and published by University of Chicago Press. This book was released on 2008-04-15 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unprecedented rise and persistence of large-scale budget deficits in many developed and developing nations during the past three decades has caused great concern. The widespread presence of such deficits has proved difficult to explain. Their emergence in otherwise diverse nations defies particularistic explanations aimed at internal economic developments within a specific country. Fiscal Institutions and Fiscal Performance shifts emphasis away from narrow economic factors to more broadly defined political and institutional factors that affect government policy and national debt. This collection brings together new theoretical models, empirical evidence, and a series of in-depth case studies to analyze the effect of political institutions, fiscal regulations, and policy decisions on accumulating deficits. It provides a fascinating overview of the political and economic issues involved and highlights the role of budgetary institutions in the formation of budget deficits.
Download or read book Unequal We Stand written by Jonathan Heathcote and published by DIANE Publishing. This book was released on 2010-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors conducted a systematic empirical study of cross-sectional inequality in the U.S., integrating data from various surveys. The authors follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household earnings, to disposable income, and, ultimately, to consumption and wealth. They document a continuous and sizable increase in wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at the bottom of the distribution, but have little effect on the overall trend. Charts and tables. This is a print-on-demand publication; it is not an original.
Download or read book Weekly Weather and Crop Bulletin written by and published by . This book was released on 1994 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumption Smoothing During the Financial Crisis written by Michael D. Hurd and published by . This book was released on 2017 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because of data limitations, the quantification of consumption smoothing in response to economic shocks has been challenging to investigate empirically. We used monthly data on total household spending, income, and labor force participation to estimate the effects of unemployment on household spending. The data come from the RAND American Life Panel, a standing survey sample that is representative of the United States adult population. We compare monthly spending and income of households prior to unemployment with spending and income following unemployment for up to 40 months. We compare spending and income following re-employment with spending and income while unemployed. We find that by month two of unemployment total household spending per month declined to about 83 percent of pre-unemployment spending. At about 14 months of unemployment, spending began to decline further, reaching 70 percent of pre-unemployment spending by month 30. Income declined much more sharply to 37 percent of its pre-unemployment level by month two of unemployment, with little change after that as the duration of unemployment increased. Thus, consumption does not decline as much as income, so that it is somewhat smoothed relative to income; yet, particularly over long-duration unemployment the decline is substantial.On re-employment, income increased rapidly, spending much less rapidly. As of the third month, high-frequency spending was about 9 percent above its value in the last month of unemployment. It continued to increase until it was about 20 percent higher. Just as with an income drop, spending is somewhat smoothed when income increases.
Download or read book The Color of Wealth written by Barbara Robles and published by The New Press. This book was released on 2006-06-05 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: For every dollar owned by the average white family in the United States, the average family of color has less than a dime. Why do people of color have so little wealth? The Color of Wealth lays bare a dirty secret: for centuries, people of color have been barred by laws and by discrimination from participating in government wealth-building programs that benefit white Americans. This accessible book—published in conjunction with one of the country's leading economics education organizations—makes the case that until government policy tackles disparities in wealth, not just income, the United States will never have racial or economic justice. Written by five leading experts on the racial wealth divide who recount the asset-building histories of Native Americans, Latinos, African Americans, Asian Americans, and European Americans, this book is a uniquely comprehensive multicultural history of American wealth. With its focus on public policies—how, for example, many post–World War II GI Bill programs helped whites only—The Color of Wealth is the first book to demonstrate the decisive influence of government on Americans' net worth.
Download or read book The Home Bias and Capital Income Flows Between Countries and Regions written by Michael J. Artis and published by . This book was released on 2011 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents a marked increase in international consumption risk sharing throughout the recent globalization period. Unlike earlier studies that have found it difficult to document a consistent effect of financial globalization on international consumption comovements, we make use of the information implicit in the relative levels of consumption and output to measure long-run risk sharing among OECD countries and US federal states.We derive our empirical setup from a deliberately simplistic model in which countries can trade perpetual claims to each other's output (Shiller securities). Our framework allows us to distinguish between two channels of risk sharing: ex ante diversification that leads to income smoothing through capital income flows and ex-post consumption smoothing through savings and dissavings. The model successfully replicates the patterns of income and consumption smoothing observed in both U.S. state-level and international data. The increase in international consumption risk sharing is closely associated with the decline in international portfolio home bias. While capital income flows remain relatively limited as a channel of risk sharing at business cycle frequencies, we find that better international portfolio diversification has led to a considerable increase in capital income flows at medium and long horizons.
Download or read book Improving the Measurement of Consumer Expenditures written by Christopher D. Carroll and published by University of Chicago Press. This book was released on 2015-06-16 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present. Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.
