savings rate
Recently Published Documents


TOTAL DOCUMENTS

160
(FIVE YEARS 47)

H-INDEX

9
(FIVE YEARS 2)

2021 ◽  
Vol 14 (1) ◽  
pp. 346
Author(s):  
Jing Ma ◽  
Qiuyun Zhao ◽  
Qing Li ◽  
Hao Yang

What causes are responsible for China’s declining labor income share? We investigate this phenomenon in depth from the standpoint of financial constraints. By summarizing the stylized facts of China’s economy, this paper demonstrates that as China’s economy transforms, the financial market’s imperfections lead to more efficient (non-state-owned) enterprises inclined to use corporate savings for the purpose of “crowding out” workers’ remuneration for endogenous financing, resulting in a rising savings rate and a declining share of labor income. On this foundation, we construct a more general theoretical model regarding China’s economic transformation, propose research propositions, and conduct an empirical study utilizing the Chinese Industrial Enterprises Database from 1999 to 2007. The findings show a strong negative relationship between the financial market imperfections and the labor income share, with a 1% increase in financial constraints reducing labor income share by 0.051%. The rise in savings as a result of the financial restrictions works as a mediator variable in this process. Furthermore, our prediction for the path of the labor income share suggests that China’s savings rate would decline after reaching its peak, while the labor income share will bottom out and rebound by the end of the country’s economic transition. This study uses firm-level micro-data to reveal the internal mechanism of financial constraints lowering labor income share, which is a useful supplement to the existing literature. It also provides empirical evidence and policy options for developing countries to reform their financial systems and increase labor income share in the pursuit of sustainable development.


2021 ◽  
pp. 1-24
Author(s):  
XUECUN ZHAO ◽  
FENG HU

This paper estimates how land expropriation affects household consumption and savings rate using a nationally representative household data from China. We argue that land expropriation is likely to be random across households within the same village. We find that land expropriation has positive and statistically significant effects on per capita household consumption and savings rate. The effects on consumption of durable goods and on savings rate, however, weaken and become insignificant over time.


2021 ◽  
pp. 61-110
Author(s):  
Alfonso Novales ◽  
Esther Fernández ◽  
Jesús Ruiz

Energies ◽  
2021 ◽  
Vol 14 (20) ◽  
pp. 6597
Author(s):  
Ahmet Bircan Atmaca ◽  
Gülay Zorer Gedik ◽  
Andreas Wagner

Mosques are quite different from other building types in terms of occupant type and usage schedule. For this reason, they should be evaluated differently from other building types in terms of thermal comfort and energy consumption. It is difficult and probably not even necessary to create homogeneous thermal comfort in mosques’ entire usage area, which has large volumes and various areas for different activities. Nevertheless, energy consumption should be at a minimum level. In order to ensure that mosques are minimally affected by outdoor climatic changes, the improvement of the properties of the building envelope should have the highest priority. These optimal properties of the building envelope have to be in line with thermal comfort in mosques. The proposed method will be a guide for designers and occupants in the design process of new mosques or the use of existing mosques. The effect of the thermal properties of the building envelope on energy consumption was investigated to ensure optimum energy consumption together with an acceptable thermal comfort level. For this purpose, a parametric simulation study of the mosques was conducted by varying optical and thermal properties of the building envelope for a temperature humid climate zone. The simulation results were analyzed and evaluated according to current standards, and an appropriate envelope was determined. The results show that thermal insulation improvements in the roof dome of buildings with a large volume contributed more to energy savings than in walls and foundations. The use of double or triple glazing in transparent areas is an issue that should be considered together with the solar energy gain factor. Additionally, an increasing thickness of thermal insulation in the building envelope contributed positively to energy savings. However, the energy savings rate decreased after a certain thickness. The proposed building envelope achieved a 33% energy savings compared to the base scenario.


2021 ◽  
Vol 1 (15) ◽  
pp. 125-137
Author(s):  
Pawel Mlodkowski

This note is a systematic review of arguments provided by Feldstein (2008) on the necessity for global readjustments, both in the U.S. and in main trading partners. The purpose is to address the main arguments in the scientific and political debate on persistent To date, there has been no publication that challenged the opinions leading to totally wrong forecasts concerning the global imbalance. With a perspective of more than 10 years of post-2008-crisis developments, and together with empirical evidence one can easily see how erroneous were the arguments formulated in 2008. The tasks included a systematic review of all arguments formulated by Martin Feldstein in 2008, and casting them against empirical evidence. The U.S. current account (CA) deficit has continued for many years, since 1982, and has not changed, as foreseen by Feldstein. The primary method is a simple comparative analysis, supported by basic macroeconomic data. They allow to reveal multiple processes leading to further deterioration of the U.S. trade balance. Neither savings rate domestically nor abroad adjusted to give a basis for solving the global imbalance. In the same time, all traditional arguments presented on global imbalances seem undeniable. However, an alternative interpretation of the imbalance does not recognize the CA deficit as “a gift to the U.S. economy”. This paper sheds new light on the “global imbalance”, suggesting that increasing domestic absorption by China may be an important factor in resolving the U.S. problematic and persistent trade deficit. Disaster-scenarios may be not there in the U.S. to experience. Future developments may be far from those announced, and previously expected by Feldstein in his seminal paper. A careful reader may conclude that all coming changes and adjustments will be slow, gradual, and will not cause any major issues in the global economy. Such conclusions seem most justified by hard data and therefore encouraging. As the topic remains central to open economy empirical macroeconomics, continuation of studies on this issue seems natural. The U.S. and China will remain the biggest economies, and, as such, they are central to the global situation.


2021 ◽  
Vol 10 (2) ◽  
pp. 247-258
Author(s):  
Salman Ahmed Shaikh

In order to enhance understanding about the actual savings behaviour and impulses which drive savings behaviour, it is interesting to study the micro foundations of savings behaviour. Collecting micro data through filled questionnaire from households in urban areas, this study identifies the motives of savings and the instruments and channels where the savings are invested in Pakistan. The results reveal that investment motive, higher income and greater frequency of household members joining labor force for earning incomes enhance the monthly savings rate. The results can be used to offer Islamic investment deposits in an attractive way. If the investment deposits are pitched properly by highlighting the stable ex-post investment returns and low ex-post volatility, then people with an investment motive parking their savings in fixed income mutual funds would be attracted towards Islamic investment deposits. Likewise, incremental long term savings plans wherein periodic investments increase over a period of time can be offered given that monthly savings rate are found to be positively associated with income. Finally, joint investment accounts can be offered given the finding that monthly savings rate is higher in households with greater number of earning members in family.JEL Classification: G11, G21, G23How to Cite:Shaikh, S. A. (2021). Incorporating Private Savings Behavior in Product Offerings: A Case Study of Pakistan. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 247-258. https://doi.org/10.15408/sjie.v10i2.20139.


2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Yalong Xie ◽  
Aiping Li ◽  
Liqun Gao ◽  
Ziniu Liu

Credit card fraud detection (CCFD) is important for protecting the cardholder’s property and the reputation of banks. Class imbalance in credit card transaction data is a primary factor affecting the classification performance of current detection models. However, prior approaches are aimed at improving the prediction accuracy of the minority class samples (fraudulent transactions), but this usually leads to a significant drop in the model’s predictive performance for the majority class samples (legal transactions), which greatly increases the investigation cost for banks. In this paper, we propose a heterogeneous ensemble learning model based on data distribution (HELMDD) to deal with imbalanced data in CCFD. We validate the effectiveness of HELMDD on two real credit card datasets. The experimental results demonstrate that compared with current state-of-the-art models, HELMDD has the best comprehensive performance. HELMDD not only achieves good recall rates for both the minority class and the majority class but also increases the savings rate for banks to 0.8623 and 0.6696, respectively.


2021 ◽  
Vol 118 (27) ◽  
pp. e2025721118
Author(s):  
Yuki M. Asano ◽  
Jakob J. Kolb ◽  
Jobst Heitzig ◽  
J. Doyne Farmer

Standard macroeconomic models assume that households are rational in the sense that they are perfect utility maximizers and explain economic dynamics in terms of shocks that drive the economy away from the steady state. Here we build on a standard macroeconomic model in which a single rational representative household makes a savings decision of how much to consume or invest. In our model, households are myopic boundedly rational heterogeneous agents embedded in a social network. From time to time each household updates its savings rate by copying the savings rate of its neighbor with the highest consumption. If the updating time is short, the economy is stuck in a poverty trap, but for longer updating times economic output approaches its optimal value, and we observe a critical transition to an economy with irregular endogenous oscillations in economic output, resembling a business cycle. In this regime households divide into two groups: poor households with low savings rates and rich households with high savings rates. Thus, inequality and economic dynamics both occur spontaneously as a consequence of imperfect household decision-making. Adding a few “rational” agents with a fixed savings rate equal to the long-term optimum allows us to match business cycle timescales. Our work here supports an alternative program of research that substitutes utility maximization for behaviorally grounded decision-making.


2021 ◽  
Vol 4 (2) ◽  
pp. 77-87
Author(s):  
J.I. Chukwunulu ◽  
S.N.O. Ibenta

This study investigated the effect of financial innovation on efficiency of financial intermediation of commercial banks in Nigerian between 2008 and 2018. The study used secondary data obtained from the Annual reports and Accounts of the Central Bank of Nigeria (CBN). The explanatory variables of the study are the product innovations in the banking sector namely: volume of automated teller machine transactions (ATM), volume of point-of-sale transactions (PoS), volume of Internet banking transactions (IBT) and volume of Mobile banking transactions (MBT). The dependent variable is the financial intermediation efficiency proxied by interest rate spread, which is measured by the difference between maximum lending rate and savings rate. A multiple regression model developed for the study was analysed with the help of Ordinary Least Square (OLS) regression technique. The result from the descriptive statistics indicated that financial intermediation in Nigeria is inefficient. The results showed that ATM, IBT and MBT have insignificant positive effects on financial intermediation while PoS has negative effects on financial intermediation efficiency. Further results indicated that the 57% change in financial intermediation efficiency explained by financial innovation is not statistically significant. The study therefore concluded that financial innovation in itself is not a determinant of the efficiency of the intermediation process in Nigeria. It is then recommended that the regulatory authority among others should make policies to increase the savings rate, so that the surplus unit will be encouraged to make their funds available to the banks for lending.


Sign in / Sign up

Export Citation Format

Share Document