{
  "title": "Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions",
  "publication": "IMF Working Papers, September 1, 1999",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/neglected-heterogeneity-and-dynamics-in-cross-country-savings-regressions-3276",
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  "summary": "This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics.",
  "sections": [
    {
      "heading": "Summary and key findings",
      "content": "- The paper examines robustness of cross-country studies of private savings to (a) allowing for possible heterogeneity of savings behavior across countries and (b) inclusion of dynamics.\n- Neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior.\n- Among the many variables considered in the literature, only the fiscal variables are identified as important determinants of private savings rates in the industrial countries in the post-World War II period:\n  - the general government surplus as a proportion of GDP\n  - the ratio of government consumption to GDP"
    },
    {
      "heading": "Subject matter and keywords",
      "content": "- Subject: Expenditure, Financial services, Government consumption, Income, National accounts, Private savings, Real interest rates\n- Keywords: coefficient estimate, country regression, cross-country studies, dynamics, Government consumption, Income, long-run coefficient, MG estimate, mover accent, OECD, panel data, panel data models, Private savings, Real interest rates, Ricardian effect, Saving behavior, savings rate, slope coefficient, slope heterogeneity, wealth-GDP ratio, WP"
    },
    {
      "heading": "Publication and document specifics",
      "content": "- Publication title: Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions\n- Publication series: IMF Working Papers\n- Publication date: September 1, 1999\n- Pages: 37\n- Volume: 1999\n- Issue: 128\n- Series: Working Paper No. 1999/128\n- DOI: https://doi.org/10.5089/9781451855036.001\n- Stock No: WPIEA1281999\n- ISBN: 9781451855036\n- ISSN: 1018-5941\n\nInternational Monetary Fund. \"Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions\" (IMF Working Paper No. 1999/128).\n\n---\n\n Content in this bundle\n\n- Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions - WP/99/128\n  - Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions - WP/99/128 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions - WP/99/128 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/neglected-heterogeneity-and-dynamics-in-cross-country-savings-regressions-3276"
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    "Published: September 1, 1999",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451855036.001",
    "The paper examines robustness of cross-country studies of private savings to (a) allowing for possible heterogeneity of savings behavior across countries and (b) inclusion of dynamics.",
    "Neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior.",
    "Among the many variables considered in the literature, only the fiscal variables are identified as important determinants of private savings rates in the industrial countries in the post-World War II period:",
    "Subject: Expenditure, Financial services, Government consumption, Income, National accounts, Private savings, Real interest rates",
    "Keywords: coefficient estimate, country regression, cross-country studies, dynamics, Government consumption, Income, long-run coefficient, MG estimate, mover accent, OECD, panel data, panel data models, Private savings, Real interest rates, Ricardian effect, Saving behavior, savings rate, slope coefficient, slope heterogeneity, wealth-GDP ratio, WP",
    "Publication title: Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions",
    "Publication series: IMF Working Papers",
    "Publication date: September 1, 1999",
    "Pages: 37",
    "Volume: 1999",
    "Issue: 128",
    "Series: Working Paper No. 1999/128",
    "DOI: https://doi.org/10.5089/9781451855036.001",
    "Stock No: WPIEA1281999",
    "ISBN: 9781451855036",
    "ISSN: 1018-5941",
    "**Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions - WP/99/128**"
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