The Volatility Trap : : Precautionary Saving, Investment, and Aggregate Risk / / Reda Cherif, Fuad Hasanov
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| Autore: |
Cherif Reda
|
| Titolo: |
The Volatility Trap : : Precautionary Saving, Investment, and Aggregate Risk / / Reda Cherif, Fuad Hasanov
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 1 online resource (23 p.) |
| Disciplina: | 332.152 |
| Soggetto topico: | Risk |
| Saving and investment | |
| Aggregate Factor Income Distribution | |
| Agricultural commodities | |
| Agriculture: General | |
| Balance of payments | |
| Capacity | |
| Capital | |
| Commodities | |
| Current Account Adjustment | |
| Current account surpluses | |
| Economic Growth and Aggregate Productivity: General | |
| Exports and Imports | |
| Farm produce | |
| Income shocks | |
| Income | |
| Intangible Capital | |
| International economics | |
| Intertemporal Consumer Choice | |
| Investment & securities | |
| Investment | |
| Investments: Commodities | |
| Life Cycle Models and Saving | |
| Macroeconomics | |
| Macroeconomics: Consumption | |
| National accounts | |
| Precautionary savings | |
| Saving | |
| Short-term Capital Movements | |
| Wealth | |
| Soggetto geografico: | United States |
| Altri autori: |
HasanovFuad
|
| Note generali: | Description based upon print version of record. |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | Cover; Abstract; Contents; Introduction; II. A "Store-or-Sow" Model of Precautionary Saving and Investment; III. Results and Implications; Figures; 1. Precautionary Saving and the Golden Rule Investment Rate; 2. A Phase Diagram of Precautionary Saving and Investment Rates; 3. Precautionary Saving and Investment Rates vs. Volatility of Permanent Shocks; 4. Precautionary Saving and Investment Rates vs. Volatility of Temporary Shocks; IV. An Empirical Relationship Among Investment, Saving, and Volatility; Tables; 1. Saving, Investment, and Volatility: Descriptive Statistics |
| 5. Saving vs. Investment6. Saving vs. Investment-Saving Ratio; V. Concluding Remarks; 2. Panel Fixed Effects Regressions; References; Appendix Table. Average Investment, Saving, and Volatility (1970-2008) | |
| Sommario/riassunto: | We study the effects of permanent and temporary income shocks on precautionary saving and investment in a "store-or-sow" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low investment, or a "volatility trap." Namely, big savers invest relatively little. In contrast, low volatility of permanent shocks leads to low precautionary saving and high or low investment, depending on the volatility of temporary shocks. Empirical evidence shows a nonlinear relationship between investment and saving and that investment is a hump-shaped function of the volatility of permanent shocks, as predicted by the model. |
| Titolo autorizzato: | The Volatility Trap |
| ISBN: | 9781475518870 |
| 1475518870 | |
| 9781475570694 | |
| 1475570694 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910968232203321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2012/134