Why aren't savings rates Latin America procyclical?

Article Abstract:

The irregular characteristic of savings rates in Latin America, which is distinguished by the absence of cyclical patterns, can be explained by differences in institutional settings in comparison to OECD countries. Reforms in institutional setting may influence consumption patterns and act as a collaborative vehicle to promote collective interests. Analysis also shows that macroeconomic dynamics are influenced by the number of institutions or groups within a specific economy.

Models, Savings, Latin America, Macroeconomics

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Sunspot equilibria and periodic cycles under idiosyncratic uncertainty

Article Abstract:

Idiosyncratic uncertainty in an overlapping generations model is incapable of generating fundamental macroeconomic fluctuations. Such incapability can be greatly attributed to the law of large numbers. The overlapping generations model are capable of having stationary sunspot equilibria and deterministic cycles despite the presence of small degree of relative risk aversion since idiosyncratic uncertainty can modify the dynamic stability.

Equilibrium (Economics)

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