Add to ORKGtextabstractWe investigate the cyclicality of the private savings to GDP ratio for a panel of 19 OECD countries over the period 1971-2009. We find robust evidence that the private savings ratio is countercyclical. Three theories unambiguously predict a higher private savings ratio during recessions: a Ricardian offset effect, the presence of credit constraints, and precautionary savings. We find evidence only for the latter theory. Our estimations take into account a large number of econometric complications: persistence in the savings ratio, endogeneity of the regressors, cross-country parameter heterogeneity, cross-sectional dependence, stationarity issues, omitted variables, and instrument strength
This paper studies the role of business cycles in the phenomenon of increasing government spending/G...
This article compares savings behavior in a sample of 17 OECD countries over 24 years. On the basis ...
This article compares savings behavior in a sample of 17 OECD countries over 24 years. On the basis ...
Abstract of associated article: We investigate the cyclicality of the household saving to household ...
Abstract of associated article: We investigate the cyclicality of the household saving to household ...
The studies in recent years display the importance of factors relevant to saving decisions. Accordin...
We use recently developed panel cointegration and integration tests, which allow for heterogeneity i...
The substitutability of private and public savings has implications for the effectiveness of fiscal ...
The substitutability of private and public savings has implications for the effectiveness of fiscal ...
The substitutability of private and public savings has implications for the effectiveness of fiscal ...
A broad set of possible determinants of private saving behavior is examined using data for a large s...
This paper examines the extent to which the conclusions of cross-country studies of private savings ...
This paper studies the role of business cycles in the phenomenon of increasing government spending/G...
Several authors have shown that models with perfect international capital mobility can generate high...
Several authors have shown that models with perfect international capital mobility can generate high...
This paper studies the role of business cycles in the phenomenon of increasing government spending/G...
This article compares savings behavior in a sample of 17 OECD countries over 24 years. On the basis ...
This article compares savings behavior in a sample of 17 OECD countries over 24 years. On the basis ...
Abstract of associated article: We investigate the cyclicality of the household saving to household ...
Abstract of associated article: We investigate the cyclicality of the household saving to household ...
The studies in recent years display the importance of factors relevant to saving decisions. Accordin...
We use recently developed panel cointegration and integration tests, which allow for heterogeneity i...
The substitutability of private and public savings has implications for the effectiveness of fiscal ...
The substitutability of private and public savings has implications for the effectiveness of fiscal ...
The substitutability of private and public savings has implications for the effectiveness of fiscal ...
A broad set of possible determinants of private saving behavior is examined using data for a large s...
This paper examines the extent to which the conclusions of cross-country studies of private savings ...
This paper studies the role of business cycles in the phenomenon of increasing government spending/G...
Several authors have shown that models with perfect international capital mobility can generate high...
Several authors have shown that models with perfect international capital mobility can generate high...
This paper studies the role of business cycles in the phenomenon of increasing government spending/G...
This article compares savings behavior in a sample of 17 OECD countries over 24 years. On the basis ...
This article compares savings behavior in a sample of 17 OECD countries over 24 years. On the basis ...