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- W2909175514 abstract "The ‘global saving glut’ à la Bernanke is not a serious problem for a large group of high-income countries considered collectively. More importantly, taken together these countries exhibit a tendency for a growing GDP share of private-sector saving and a falling GDP share of private investment. Given prevailing tendencies regarding income distribution and gross capital formation, the private sector of developed countries considered collectively is prone to accumulating ‘saving gluts’ which is reflected in persistent public-sector financial deficits. Fiscal policy may need to support growth with the debt-financed income injections more or less permanently, and not just in response to ‘cyclical’ growth slow-downs or occasional recessions." @default.
- W2909175514 created "2019-01-25" @default.
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- W2909175514 date "2019-01-01" @default.
- W2909175514 modified "2023-09-25" @default.
- W2909175514 title "The private saving glut and the developed countries' government financial balance" @default.
- W2909175514 doi "https://doi.org/10.4337/roke.2019.01.07" @default.
- W2909175514 hasPublicationYear "2019" @default.
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