Found 3 article(s) for author 'Saving'

Wealth Effects and Macroeconomics Dynamics

Wealth Effects and Macroeconomics Dynamics. Karen Dynan, September 2014, Paper, “The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects—the impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature on wealth effects, but there are also many unanswered issues and questions. This paper reviews the important issues regarding the role wealth plays in the macroeconomy and argues that there is a need for much more wealth effect.Link

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Saving More to Borrow Less: Experimental Evidence from Access to Formal Savings Accounts in Chile

Saving More to Borrow Less: Experimental Evidence from Access to Formal Savings Accounts in Chile. Dina Pomeranz, June 12, 2014, Paper. “Poverty is often characterized not only by low and unstable income, but also by heavy debt burdens. We find that reducing barriers to saving through access to free savings accounts decreases participants’ short-term debt by about 20%. In addition, participants who experience an economic shock have less need to reduce consumption, and subjective well-being improves significantly. Precautionary savings and credit therefore…” Link verified October 6, 2014

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The Promise of Microfinance and Women’s Empowerment: What Does the Evidence Say?

The Promise of Microfinance and Women’s Empowerment: What Does the Evidence Say? Dina Pomeranz, February 2014, Paper. “The microfinance revolution has transformed access to financial services for low-income populations worldwide. As a result, it has become one of the most talked-about innovations in global development in recent decades. However, its expansion has not been without controversy. While many hailed it as a way to end world poverty and promote female empowerment, others condemned it as a disaster for the poor…” Link

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