The volatility trap : precautionary saving, investment, and aggregate risk /

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,...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Cherif, Reda (Autor), Hasanov, Fuad, 1978- (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/134.
Temas:
Saving and investment > Econometric models.
Risk > Econometric models.
Risque > Modèles économétriques.
Risk > Econometric models
Saving and investment > Econometric models
Acceso en línea:Texto completo

MARC

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049 |a UAMI 
100 1 |a Cherif, Reda,  |e author. 
245 1 4 |a The volatility trap :  |b precautionary saving, investment, and aggregate risk /  |c prepared by Reda Cherif and Fuad Hasanov. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2012. 
300 |a 1 online resource (21 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
340 |g polychrome.  |2 rdacc  |0 http://rdaregistry.info/termList/RDAColourContent/1003 
347 |a data file 
490 1 |a IMF working paper ;  |v WP/12/134 
500 |a Title from PDF title page (IMF Web site, viewed June 1, 2012). 
520 3 |a 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 
504 |a Includes bibliographical references. 
500 |a "Institute for Capacity Development." 
500 |a "May 2012." 
505 0 |a 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. 
505 8 |a 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). 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Saving and investment  |x Econometric models. 
650 0 |a Risk  |x Econometric models. 
650 6 |a Risque  |x Modèles économétriques. 
650 7 |a Risk  |x Econometric models  |2 fast 
650 7 |a Saving and investment  |x Econometric models  |2 fast 
700 1 |a Hasanov, Fuad,  |d 1978-  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjF3TMt67TCBkTCHpYFqcP 
710 2 |a International Monetary Fund.  |b Institute for Capacity Development,  |e issuing body. 
758 |i has work:  |a The volatility trap (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCFYB8499hdY3Pxc7QRVXBP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Cherif, Reda.  |t Volatility Trap: Precautionary Saving, Investment, and Aggregate Risk.  |d Washington : International Monetary Fund, ©2012  |z 9781475503869 
830 0 |a IMF working paper ;  |v WP/12/134. 
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