How does access to finance impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile than income, indicates that financial reform further increases the volatility of consumption relative to output. This puzzle is addressed in the framework of an emerging economy model in which households...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2015/06/03
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Рабочий документ в рамках исследования вопросов политики
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WPS7288
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1
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1
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2015/06/03
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Disclosed
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Financial inclusion, productivity shocks, and consumption volatility in emerging economies
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consumption volatility
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Официальная версия документа (может содержать подписи, и т.д.)