Examinando por Materia "CONSUMPTION"
Mostrando1 - 2 de 2
Resultados por página
Opciones de clasificación
- PublicaciónAcceso abiertoEfectos de la crisis financiera internacional sobre la postura fiscal del gobierno colombiano(2009-12) Lozano, IgnacioThe Lehman Brothers crash in September 2008 marked the beginning of one of the worst years in the history of international financial markets. This event also determined the initiation of the global economic recession which will last at least three years. The data have been confirmed that virtually all industrialized and most emerging countries faced a deep recession, with serious effects on employment and poverty, so the collapse today is similar to the crisis of the thirties. This paper describe how the crisis was conceived in the financial system in the United States and spread to the rest of the industrialized economies. We also describe the transmission channels of the crisis into emerging markets and, in particular, we show the first effects on the major economies of Latin America
- PublicaciónAcceso abiertoRiqueza por vivienda de los hogares y sus efectos amplificadores en el consumo(2010-12) Morales-Mosquera, Miguel ÁngelConsidering that housing is the main asset for households, it is relevant to study its behavior and the channel through it affects wealth and consumption. This paper analyzes the effects that changes in housing wealth have on aggregate consumption. In the model considered here, houses work as collateral and households invest in real state. Thus, the model considers a credit constraint and an adjustment cost on investment, in order to analyze their effect on consumption. We conclude that those households with low adjustment cost on investment and using houses as collateral tend to show higher consumption fluctuations due to the accelerator effect