{
  "title": "An Exploration of the Private Sector Response to Changes in Government Saving Across OECD Countries",
  "publication": "IMF Working Papers, May 1, 2001",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/an-exploration-of-the-private-sector-response-to-changes-in-government-saving-across-oecd-4084",
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  "summary": "Several recent papers have examined the response of national saving to changes in fiscal policy. This paper uses knowledge about the intergenerational fiscal position of a country to determine whether this information helps to explain cross country differences in the nature of the response.",
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    {
      "heading": "Summary",
      "content": "- Several recent papers have examined the response of national saving to changes in fiscal policy.\n- This paper uses knowledge about the intergenerational fiscal position of a country to determine whether this information helps to explain cross country differences in the nature of the response.\n- Using OECD data the paper finds that:\n  - In countries in intergenerational fiscal balance, the private sector completely offsets fiscal policy changes.\n  - In other countries the private sector offset is only partial.\n  - In countries with large intergenerational fiscal imbalances, strong fiscal consolidation packages reduce the impact of changes in fiscal policy on national saving."
    },
    {
      "heading": "Key findings and empirical results",
      "content": "- Private sector behavior differs by intergenerational fiscal position:\n  - Complete private-sector offset where countries are in intergenerational fiscal balance.\n  - Partial private-sector offset where countries are not in intergenerational fiscal balance.\n- Interaction with fiscal consolidation:\n  - In countries with large intergenerational fiscal imbalances, strong fiscal consolidation packages reduce the impact of changes in fiscal policy on national saving.\n- Data source: OECD data."
    },
    {
      "heading": "Themes and concepts emphasized",
      "content": "- Expenditure\n- Fiscal consolidation\n- Fiscal policy\n- Fiscal stance\n- National accounts\n- Private savings\n- Intergenerational fiscal balance\n- Ricardian effects\n- Saving rate\n- Expenditure coefficient\n- Government saving\n- Saving position\n\n---\n\n Content in this bundle\n\n- wp0169\n  - wp0169 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp0169 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/an-exploration-of-the-private-sector-response-to-changes-in-government-saving-across-oecd-4084"
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    "[Markdown version](/en/publications/wp/issues/2016/12/30/an-exploration-of-the-private-sector-response-to-changes-in-government-saving-across-oecd-4084/index.md)",
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    "Authors: Alun H. Thomas",
    "Published: May 1, 2001",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451849066.001",
    "Several recent papers have examined the response of national saving to changes in fiscal policy.",
    "This paper uses knowledge about the intergenerational fiscal position of a country to determine whether this information helps to explain cross country differences in the nature of the response.",
    "Using OECD data the paper finds that:",
    "Private sector behavior differs by intergenerational fiscal position:",
    "Interaction with fiscal consolidation:",
    "Data source: OECD data.",
    "Expenditure",
    "Fiscal consolidation",
    "Fiscal policy",
    "Fiscal stance",
    "National accounts",
    "Private savings",
    "Intergenerational fiscal balance",
    "Ricardian effects",
    "Saving rate",
    "Expenditure coefficient",
    "Government saving",
    "Saving position",
    "**_wp0169**"
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