On Impatience and Policy Effectiveness

Released on by Ms.Silvia Sgherri
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  • On Impatience and Policy Effectiveness Book Detail

  • Author : Ms.Silvia Sgherri
  • Release Date : 2009-01-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 30
  • ISBN 13 : 1451871651
  • File Size : 24,24 MB
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On Impatience and Policy Effectiveness by Ms.Silvia Sgherri PDF Summary

Book Description: An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater financial deregulation, larger wealth accumulation, and better policies might have helped lower uncertainty about future income and lengthen private sectors' planning horizon. In an overlapping-generations model, in which individuals discount the future more rapidly than implied by the market rate of interest, we find indeed evidence of a falling degree of impatience, providing empirical support for this hypothesis. The degree of persistence of "windfall" shocks to disposable income also appears to have varied over time. Shifts of this kind are shown to have a key impact on the average marginal propensity to consume and on the size of policy multipliers.

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On Impatience and Policy Effectiveness

On Impatience and Policy Effectiveness

File Size : 74,74 MB
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An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater fina

On Impatience and Policy Effectiveness

On Impatience and Policy Effectiveness

File Size : 17,17 MB
Total View : 5356 Views
DOWNLOAD

An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater fina