Financial Market Liberalisation, Wealth and Consumption:
The past two decades have seen substantial deregulation in the financial sectors of most OECD countries. The main motivation was to improve efficiency within the financial system, but the macroeconomic implications might go beyond this objective with impacts on the business cycle and the transmissio...
Gespeichert in:
| 1. Verfasser: | |
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2001
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| Schriftenreihe: | OECD Economics Department Working Papers
no.308 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The past two decades have seen substantial deregulation in the financial sectors of most OECD countries. The main motivation was to improve efficiency within the financial system, but the macroeconomic implications might go beyond this objective with impacts on the business cycle and the transmission mechanisms of monetary and fiscal policies. More specifically, financial liberalisation and heightened competition in the financial services sector, through a rapid expansion of credit, may have eased the liquidity constraints facing households, thus raising the targeted level of consumption. The objective of this paper is to test whether financial deregulation, through an easing of liquidity constraints, has had an impact on the relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to assess the impact of financial deregulation on global wealth and on its different components (financial, housing and others) ... |
| Beschreibung: | 1 Online-Ressource (29 p.) 21 x 29.7cm. |
| DOI: | 10.1787/586625524684 |
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| spelling | Boone, Laurence VerfasserIn aut Financial Market Liberalisation, Wealth and Consumption Laurence, Boone, Nathalie, Girouard and Isabelle, Wanner Paris OECD Publishing 2001 1 Online-Ressource (29 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.308 The past two decades have seen substantial deregulation in the financial sectors of most OECD countries. The main motivation was to improve efficiency within the financial system, but the macroeconomic implications might go beyond this objective with impacts on the business cycle and the transmission mechanisms of monetary and fiscal policies. More specifically, financial liberalisation and heightened competition in the financial services sector, through a rapid expansion of credit, may have eased the liquidity constraints facing households, thus raising the targeted level of consumption. The objective of this paper is to test whether financial deregulation, through an easing of liquidity constraints, has had an impact on the relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to assess the impact of financial deregulation on global wealth and on its different components (financial, housing and others) ... Economics Girouard, Nathalie MitwirkendeR ctb Wanner, Isabelle MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/586625524684 Volltext |
| spellingShingle | Boone, Laurence Financial Market Liberalisation, Wealth and Consumption Economics |
| title | Financial Market Liberalisation, Wealth and Consumption |
| title_auth | Financial Market Liberalisation, Wealth and Consumption |
| title_exact_search | Financial Market Liberalisation, Wealth and Consumption |
| title_full | Financial Market Liberalisation, Wealth and Consumption Laurence, Boone, Nathalie, Girouard and Isabelle, Wanner |
| title_fullStr | Financial Market Liberalisation, Wealth and Consumption Laurence, Boone, Nathalie, Girouard and Isabelle, Wanner |
| title_full_unstemmed | Financial Market Liberalisation, Wealth and Consumption Laurence, Boone, Nathalie, Girouard and Isabelle, Wanner |
| title_short | Financial Market Liberalisation, Wealth and Consumption |
| title_sort | financial market liberalisation wealth and consumption |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/586625524684 |
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