Housing Finance Imperfections And Private Saving
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Understanding Saving
Author | : Fumio Hayashi |
Publisher | : MIT Press |
Total Pages | : 532 |
Release | : 1997 |
Genre | : Business & Economics |
ISBN | : 9780262082556 |
Analysis of consumption and saving decisions by households has always been one of the most active areas of research in economics--and with good reason. Private consumption is the most important component of aggregate demand in a capitalist economy, and explaining consumption is the key element in most macroeconomic forecasting models. To evaluate the effect of government policies invariably requires the knowledge of how they change parameters relevant for household decision making. Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters. The monograph, which brings together Hayashi's empirical research on saving, is divided into three sections. Part I, "Liquidity Constraints", contains five studies that test the well-known implication of the Life Cycle-Permanent Income hypothesis that households shield consumption from income fluctuations. Part II, "Risk-Sharing and Altruism", contains three papers that examine the interactions between related and unrelated households predicted by the hypothesis for the US and Japanese households. The three papers in Part III, "Japanese Saving Behavior", present the author's explanation of the high saving rate in postwar Japan.
Housing Finance and Real-Estate Booms
Author | : Mr.Eugenio Cerutti |
Publisher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2015-06-03 |
Genre | : Business & Economics |
ISBN | : 1513552074 |
The recent global crisis highlighted the risks stemming from real estate booms. This has generated a growing literature trying to better understand the sources and the risks associated with housing and credit booms. This paper complements and supplements the previous work by (i) exploiting more disaggregated data on credit allowing us to dissociate between firm-credit and household (and in some cases mortgage) credit, and (ii) by taking into account the characteristics of the mortgage market, including institutional as well as other factors that vary across countries. This detailed cross-country analysis offers new valuable insights.
Saving and the Accumulation of Wealth
Author | : Albert Ando |
Publisher | : Cambridge University Press |
Total Pages | : 428 |
Release | : 2006-11-23 |
Genre | : Business & Economics |
ISBN | : 9780521032230 |
The evolution of private saving and its interaction with government fiscal policy play an important and complex role in the development of the national economy. To gain insight into this process, we must first understand the savings behavior of individual households and the ways in which they aggregate over the entire population to produce national saving. Italy provides an ideal laboratory in which to assess the impact of government and private transfer, imperfections in the capital markets, productivity growth and shifting demographic patterns on the saving behavior of individual households and on their aggregation into total private saving. The book draws on the Italian experience and data, and offers new findings on many aspects of the process of saving determination.
Financial Market Imperfections and Home Ownership
Author | : Maria Concetta Chiuri |
Publisher | : |
Total Pages | : 48 |
Release | : 2001 |
Genre | : Financial institutions |
ISBN | : |
Household Saving in Japan
Author | : Charles Yuji Horioka |
Publisher | : |
Total Pages | : 484 |
Release | : 1986 |
Genre | : Education |
ISBN | : |