Dollarization

Article Abstract:

As the number of countries increases, there is a drive towards monetary unions and dollarization. Dollarization is the adoption of another countries currency, not necessarily the US dollar. Monetary union eases trade and stabilizes prices, but it can also remove a source of unity within a country and promote political instability.

Foreign exchange, Monetary policy, Monetary unions, Globalization

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Interest elasticity in a life-cycle model with precautionary savings

Article Abstract:

Interest rates fluctuations have little effect on precautionary savings or retirement income savings. The savings are still accumulated despite low interest rates. Future income planning and tax reduction are more important motivators for savings.

Planning, Interest rates, Savings, Retirement income, Wealth

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