World Saving
IMF Working Papers, November 13, 2014
Source details
- Canonical URL
- World Saving
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Bibliographic details
- Authors: Francesco Grigoli, Alexander Herman, Klaus Schmidt-Hebbel
- Published: November 13, 2014
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781475545517.001
Study scope and methodology
- Authors: Francesco Grigoli, Alexander Herman, Klaus Schmidt-Hebbel
- Publication date: November 13, 2014
- Series: Working Paper No. 2014/204, Issue: 204, Volume: 2014, Pages: 55
- DOI: https://doi.org/10.5089/9781475545517.001
- Stock No: WPIEA2014204; ISBN: 9781475545517; ISSN: 1018-5941
- Database coverage: 165 countries from 1981 to 2012
- Methodological features:
- Robustness analysis across different estimation techniques
- Expanded empirical search to include potential saving determinants identified by theory but not previously considered in empirical literature
- Analysis that nests the 2008-10 crisis period
- Comparison across four different country groups
- Disaggregation across national, private, household, and corporate saving rates
Key findings and contributions
- The paper confirms in part existing research on saving behavior.
- It sheds light on some ambiguous or contradictory findings from prior literature.
- It highlights the role of previously neglected determinants of saving.
- Compared to the literature, the paper finds a larger number of significant determinants of saving rates:
- This holds across different estimators.
- This holds for different periods, including the 2008-10 crisis period.
- This holds across different country groups.
- This holds across different saving aggregates (national, private, household, corporate).
Subjects and keywords
- Subject: Consumption, Income, Personal income, Private savings, Terms of trade
- Keywords: household saving, income growth, private saving, saving rate, WP
Source: IMF Working Paper "World Saving" by Francesco Grigoli, Alexander Herman, Klaus Schmidt-Hebbel, November 13, 2014.